The data analyzed based on Google trends revealed that people are not interested in crypto and NFTs this year.
NFTs is an old unique concept, which entered the Crypto industry around 2 years back. The entry of NFTs in crypto changed huge things. Even in the present time, The FTs Concept is successful, and also this concept of blockchain technology is moving toward new use cases in real life. On the other hand, augmented reality-based technology is moving toward another level. After the announcement of Meta foray in Metaverse, the majority of the tech companies are showing huge interest in Metaverse and the crypto projects related to Metaverse are grabbing huge attention in the crypto and non-crypto Industry.
The data report of Google Trend show that huge searches about the Metaverse and related terms took place from October to December of 2021. But later the search frequency for the Metaverse term declined rapidly and it is at its lowest search level in March.
The attached picture also noted that search frequency for the NFTs term also declined rapidly this year. Singapore topped in the list of countries, which searched about NFTs highest time about NFTs.
However, the people of Turkey showed a huge inclination toward the Metaverse-based projects in the last 12 months. In this list, China and Singapore grabbed 2nd and 3rd rank to search about Metaverse.
Crypto market always need a new trend
This small research showed that traction for the Metaverse and NFTs are getting down. The main reason behind this downfall is Web3.
At present, Web3 is a big trend in the crypto industry. The majority of the projects are doing their work inclined to Web3 because they believe that the next trend of the crypto Industry is Web3 and blockchain technology can provide a better ecosystem for Web3 based projects.