Metaverse and NFTs already losing steam
Interest In NFTs And The Metaverse Is Falling Fast https://t.co/owmr8hCscn pic.twitter.com/FB7WSNRI06
- Forbes (@Forbes) March 14, 2022
Despite initial buzz, interest in both concepts is sharply declining, according to Google trends.
Interest in the metaverse hit its peak when Facebook changed its name to Meta. But since then, it has seen a decline in relevance as Facebook has not presented a coherent vision for the concept, nor have any of its blockchain-based competitors. Video games, many of which are already metaverse-adjacent, don’t really seem to care to call themselves that at all, even if games like Fortnite and Roblox are further down this road than anyone, also the concept in general is not something new as MMO RPG have existed for decades.
NFTs, meanwhile, peaked around the end of January, and have only dropped since. This should ward off the idea that the global breaking news of Russia invading Ukraine caused this drop in interest for this term and perhaps many others, as we can see this was already beginning to slide a month before the invasion even happened. It has been a smooth decline ever since, and shows no sign of slowing.
On the other hand, crypto, blockchain, Ethereum and Bitcoin have had a huge surge. Slight declines in a few, perhaps, but not the same level as what we’re seeing here with the metaverse and NFTs. “Web3” is on an arc more similar to NFTs, however.
Source 1