Google Searches For Metaverse Drop 70% From Peak

Google Searches For Metaverse Drop 70% From Peak – Analysis

Updated: 02 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The non-fungible token market has suffered a substantial downturn, which has left many NFTs declining in sales and price. Even though the NFT market has gotten smaller in recent weeks, the fact is that the NFT is not dead but just taking a breather. In this article, we will delve into the trends surrounding Web3, NFTs, and the Metaverse.

Google Searches For Metaverse Drop 69% From Peak

Data compiled by TasteMakerz, a decentralized education guild supported by Forj and video game giant Animoca Brands, show that Google search interest for Metaverse, non-fungible tokens, and web3 has declined for the past several months.

Tastemakerz recorded just 202,000 searches for Metaverse in the past month, representing a 2% decline and 69% from its peak season. Metaverse is a virtual world where several billion people live, work, shop, and interact with each other from the comfort of their couches in the physical world. The virtual world came into the spotlight in 2021 and has drastically faded in recent weeks.

The non-fungible token is a unique digital identifier recorded on a blockchain and used to certify ownership and authenticity. Digital collectibles can be anything digital such as drawings, music, images, and brain-downloaded and turned into an AI.

NFTs come into the spotlight in 2021, slightly earlier than the Metaverse. Since their inception, NFTs have gained mainstream adoption among institutions, businesses, and investors. The number of people, who searched the term NFTs last month, went up by 10% from the previous month. Tastemakerz recorded more than 5,000 Google searches for NFTs.

Google Searches For NFTs Up 16% In July

Google searches for Web 3, the concept of the next generation of the web, have slightly gone up in recent weeks. Tastemakerz recorded more than 172,000 searches in July, representing a 16% increase from the past year. Web3 Games has also recorded a 160% increase from the past year.

The interest in “virtual reality” increased over the final quarter of 2022. Virtual reality” attracts 18 times more search volume among Web2 users. In response to this trend, notable companies like Reddit and Starbucks are abandoning buzzwords to engage with their audience more naturally.

Middle East and Asian countries, including China, Singapore, and Unite Arabs Emirates, have been leading the metaverse adoption in the past 12 months. Developing countries such as Nigeria and the Philippines are the driving force behind the play-and-earn economy in Web3.