Google Trend Data for ‘NFT’ Shows Global Interest Slashed by 70%

Google Trend Data for ‘NFT’ Shows Global  Interest Slashed by 70%

The crypto market crash of 2022 has led to decreased investor curiosity in digital collectibles by the worldwide NFT inhabitants. 

Interest in non-fungible tokens (NFT) has dropped to new excessive lows in May 2022. According to Be[In]Crypto analysis and information from Google Trends, curiosity in NFT-related subjects by the worldwide inhabitants has sunk. 

Interest over time includes the variety of Google searches in NFT content material represented by a quantity between 0 and 100. A price of 0 or near 0 means there may be little to no curiosity. On the opposite hand, a price of no less than 50 implies that the time period constitutes an enormous a part of searches by the worldwide inhabitants. 

The time period “non-fungible token” reached a price of 26 within the final days of May. This was a 74% drop from the height curiosity time beyond regulation of 100 reached in January 2022. 

Source: Google Trends

In January 2022, the key NFT marketplaces’ month-to-month volumes reached an all-time excessive of $16.54 billion. In the final days of May, the full month-to-month quantity was roughly $4 billion, equating to a 75% decline from January’s quantity. 

Source: The Block Crypto

Some of the NFTs that contributed to January’s milestone embody the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Axie Infinity.

Source: BAYC January 2022 Sales Volume Chart by CryptoSlam

In the final days of May, BAYC NFT gross sales quantity was within the area of $200 million, a 41% decline in 4 months.

In January 2022, Axie Infinity and Mutant Ape Yacht Club gross sales volumes had been roughly $126.49 million and $252.33 million, respectively.

The bearish market dramatically slashed these values within the second quarter of 2022.

Axie Infinity had a complete gross sales quantity of $6.6 million whereas MAYC had $163.96 million in May. Overall, Axie Infinity noticed a decline of 94% whereas BAYC noticed gross sales quantity sink by 36%.

Overall, points that proceed to pattern on Google throughout the globe are inflation, Ukraine/Russia Crisis, gun management, and the general crypto market crash (with costs and complete worth locked of digital property) dominating search patterns.  

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