Search Interest in NFTs has Dropped by 68% in the Last 12 Months

 Search Interest in NFTs has Dropped by 68% in the Last 12 Months

According to a BanklessTimes.com report, interest in the term peaked at 100 on June 19-25, 2022. Fast forward to a year later, and the score has plummeted to a low of 32 during the week of 4-10 June 2023. That represents a 68% fall in the measure.

To understand the reasons behind the waning search interest in NFTs, we sought insights from BanklessTimes CEO Jonathan Merry.

The CEO has identified the cooling down of the initial hype surrounding NFTs as one of the primary factors behind the trend. He argued that, as with any new technology, public interest in NFTS surged initially, only to taper off as the novelty wore thin. Merry explained:

"As the hype around NFTs has cooled, people's interest in them has also waned. NFTs experienced an unprecedented surge in value before, attracting speculative investors. But the market would always correct itself, and that's what we're seeing now."BanklessTimes CEO Jonathan Merry

The full story and statistics can be found here: Search Interest in NFTs has Dropped by 68% in the Last 12 Months