The terms “NFT,” “cryptocurrency,” and “Metaverse” have dominated headlines in the last year, affecting everything from daily life to international business. In just one week during February, almost $200 million worth of NFTs were traded on some of the biggest marketplaces, The Block writes.
However, among the millions of supporters of the new NFT movement, there is an equal population of opposition. According to a Tidio survey, a whopping 82% of Gen-Z believes that NFTs are a “scam.” Those are significant numbers considering Gen-Z is the target audience behind much of the NFT marketing.
The frequency of searches for “NFT” also appears to be falling. Google Trends shows that from January 16 to January 22, the term “NFT” hit 100 on its search trend scale. This figure represents the search term’s peak — the most popular it has ever been. However, as of March 12, the term “NFT” is ranked at 27, making it 73% less popular than during its peak.
The same is true for the term “Metaverse.” It peaked in late October, around the time that Mark Zuckerberg announced his futuristic vision for a near-second reality inside VR. However, it too has fallen to levels similar to the term “NFT.”
Surprisingly, cryptocurrency has a relatively stable graph without seeing a dramatic fall from grace like its technological peers.
One could speculate that crypto remains relevant, at least in search popularity, due to its real-world potential, while the concept of NFTs and the Metaverse have remained mostly that: a concept.
Cryptocurrency sprang up from the depths of cyberspace to become a widely used alternative to traditional currency, and businesses across the world are adopting crypto as an alternative.
Meanwhile, with NFTs and the Metaverse, investors are hesitant. For instance, the Metaverse peaked in popularity during its launch by Zukerberg in 2021. Still, Zuckerberg has yet to lay out a solid plan of action to bring the Metaverse to life, which could be reflected by its recent drop in popularity.
Despite having lost dwindling popularity, these topics still receive hundreds of thousands of searches per day. When it comes to NFTs, the Metaverse, and crypto, tech entrepreneurs like Forbes’ Yusuf Berkan Altun hold that they are not just a fad.
