The NFT and metaverse hype are starting to fade, and new data is emerging by Google Trend. Global searches for “NFT” and “metaverse” have begun to decline this year, with requests for NFT searches dropping sharply in the first quarter of 2022.
According to Google Trends (GT), a service that tracks the most popular groups, searches for “metaverse” and “NFT” in the last 12 months have gained momentum from October to December 2021. However, since the beginning of 2022, the interest in search has decreased dramatically large, hitting its lowest level in March.
The term “NFT” dropped from a score of 100 on the GT during January 2022, to a score of 42, in the first week of March. This shows 58 percent less benefit. A similar situation was observed in the case of the “metaverse” as well. The term has dropped significantly, from January’s high score of 88 to its score of 32 in March.
Metaverse was the most searched term in Turkey, followed by China and Singapore, ranked No. 2 and 3, respectively. Cyprus and Lebanon are closely followed in the fourth and fifth places, respectively.
Meanwhile, Singapore ranked first on the list of interests by region for the past 12 months for the keyword ‘NFT’. Followed by Hong Kong, China, Canada and the Philippines. Some of the top topics related to NFT in March 2022 were: Yacht Club, Bored ape, Safe Moon and Nft Apes.
Earlier in December, the term It seems that “NFT” has passed This is for “Crypto”. People bid thousands to own these collectibles, some even selling for millions. A recent report by DappRadar revealed that people spent more than $24.9 billion in 2021, compared to just $94.9 million the year before.
According to Cointelegraph research, sales of NFTs grew from $41 million in 2018 to $2.5 billion in the first half of 2021, representing a 60-fold growth in three and a half years.
Meanwhile, not only collectors or investors, but Bollywood stars like Amitabh Bachchan, Salman Khan, Sunny Leone are also jumping onto the cryptocurrency bandwagon.
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