Every so often a new kind of tech comes along that many think will change the course of the future, but that doesn’t always end up being the case. Two of the most prominent new forms of tech that quite a few individuals that are experienced in such matters have been talking about have been NFTs and the Metaverse, and they have drummed up enough hype that many are expecting them to be rather impactful in the coming years.
With all of that having been said and now out of the way, it is important to note that recent Google Search Trends might be indicating that this is not going to happen in the end. Facebook’s name change to Meta definitely created a pretty huge amount of hype for the tech, but now Google Trends data suggest that popularity for this keyword has decreased significantly so much so that it has returned to the levels that could be seen prior to the name change having occurred.
NFTs have also been declining in their level of interest with all things having been considered and taken into account. Another way to look at this is by analyzing the values of NFTs that are currently out there. The average value of an NFT has dropped to around $2,000 which a lot of people will be concerned about because of the fact that this is the sort of thing that could potentially end up making them lose a lot of money down the line.
One reason for why NFTs are less popular might have something or the other to do with the increased level of regulation that they have started to see. People that invest in NFTs want to be able to take advantage of all of its benefits, but excessive regulation could put a damper on that. However, it should also be factored in that NFTs might have lost a fair bit of their novelty value which leads to fewer transactions. A lack of activity can inevitably result in an asset seeing a dip in its overall value for the most part.
Read next: Consumers are worried about NFTs and wallet protection