Skip to main content

Google Trends shows interest in NFTs down 70% globally

 


Since the crypto crash, investor interest in digital collectibles like NFTs has waned.


In May 2022, interest in non-fungible tokens (NFT) fell to a new low for the year. Research from BeInCrypto and data from Google Trends shows that interest in NFTs has waned rapidly after hitting an all-time high earlier in the year.


Interest over time includes the number of Google searches for NFT content and is represented with a value between 0 and 100. A value of 0 or almost 0 means that there is little interest in the topic. On the other hand, a value above 50 means that the term accounts for a large proportion of searches worldwide.


The term “ Non-Fungible Token ” reached a search count of 26 in the last few days of May, down 74% from the last all-time high of 100 in January 2022.

NFT marketplaces are losing trading volume

In January 2022, the monthly trading volume of the major NFT marketplaces hit an all-time high of $16.54 billion. In the last days of May, the total monthly trading volume was around $4 billion. That's down about 75% from January's volume.


BAYC and Axie Infinity among the most popular NFTs

NFTs that contributed to the high trading volume on some NFT marketplaces in January include the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collections, as well as the blockchain game NFTs Axe Infinity .


In the final days of May, Bored Ape Yacht Club NFTs volume was in the $200 million range. That's down 41% over the past four months. In January 2022, the sales volume of Axie Infinity and Mutant Ape Yacht Club was US$126.49 million and US$252.33 million. In the bear market, these values ​​fell drastically in the second quarter of 2022.


Axie Infinity currently has a sales volume of US$6.6 million, while MAYC's sales volume is around US$163.96 million. Overall, Axie Infinity is down 94%, while MAYC's sales volume is down 36%.


Topics that continue to trend on Google around the world and dominate searches are inflation and the Ukraine/Russia war.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
Clash Of Streamers - Earn Crypto while Playing all for Free! - Play smart! 
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more