Google Trends for ‘NFT’ Shows a 70% Drop in Global Interest

The global NFT population’s interest in digital collectibles has plummeted due to the 2022 crypto market crisis. In May 2022, interest in non-fungible tokens (NFT) reached new lows. According to Be[In]Crypto study and Google Trends data, global interest in NFT-related topics have decreased. The number of Google searches in NFT material over time is represented by a value between 0 and 100. There is little to no interest if the value is 0 or close to 0. A figure of at least 50, on the other hand, indicates that the term is used often by the global population. Google Trends Data for 'NFT' Shows Global Interest Slashed by 70%#Crypto #Web3 #NFTs #CryptocurrencyNews pic.twitter.com/PDmLaKmSK0 — Vijay Pravin (VP) | bitsCrunch (@VijayPravinM) May 30, 2022 In the final days of May, the word “non-fungible token” attained a value of 26. This was a 74% reduction from the January 2022 peak of 100 percent interest over time. Monthly volumes on the significant NFT exchanges reached an all-time high of $16.54 billion in January 2022. The entire monthly volume was around $4 billion in the closing days of May, a 75 percent decrease from January’s level. The Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Axie Infinity are among the NFTs that contributed to January’s milestone. BAYC NFT’s sales volume was $200 million in the latter days of May, a 41% drop in four months. Axie Infinity and Mutant Ape Yacht Club had around $126.49 ...