The crypto market crash in 2022 has also led to waning investor interest in NFTs.
Interest in NFTs fell to new low in May 2022. According to data from Google Trends, the global population’s interest in NFT-related topics has waned.
According to Google data, this interest is represented by a number between 0 and 100. A value of 0 or close to 0 means little or no interest. On the other hand, a value of at least 50 means that the term generates a large portion of searches done by the global population.
The term reached the value of 26 in the last days of May. This corresponds to a 74% decrease from the 100 level reached in January 2022. In January 2022, monthly volumes of major NFT marketplaces reached an all-time high of $16.54 billion. In the last days of May, total monthly volume was around $4 billion, marking a 75% decrease from January volume.
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