Interest In The Metaverse And NFTs Has Decreased Overall, Inspiring Memes About The Alleged Failing Of The Industries | Know Your Meme

Interest In The Metaverse And NFTs Has Decreased Overall, Inspiring Memes About The Alleged Failing Of The Industries

By Owen
2345 views
• Published 2 years ago

Published 2 years ago

It was reported by Forbes yesterday that Google search trends are showing a decrease in interest regarding the Metaverse and NFTs over the past few months. This has led many creators online who dislike both industries to stomp on them in the form of memes, assuming this insight translates to the industry crumbling.


Although Twitter users like @RealYouTubeKids alerted about it last week, it wasn't until Forbes posted a tweet yesterday that the discussion really took off. NFT dislikes subsequently quote retweeted and replied to the discovery en masse.


Of course, the Hexagonal PFPs and Bored Apes on Twitter retaliated with their own mounting evidence, but they were often met with resistance more than their opponents. Insults flew regarding getting ratioed, as both teams fought about what was relevant and what was obsolete.


While Forbes' headline certainly sounds like good news for the non-cryptopilled among us, their supporting data isn't quite air-tight.

"Despite an initial surge in usage of the buzzwords, interest in both concepts appears to be sharply declining, at least according to Google search trends, which have been seeing deep downward turns for both terms," writes Gassi.

Gassi, a video game journalist, also notes that the consistent criticism publishers have received for dabbling with NFTs has scared other publishers away from the controversial practice.

There are myriad ways to interpret a Google Trends graph. The peak of "Metaverse" came shortly after Facebook seemed to go all-in on the concept with their rebrand to Meta, though they haven't provided much in the way of a concrete plan on implementing the Metaverse into society's day-to-day life. It's unclear why searches for NFTs dropped after January, but it is possible society at large has caught up to understanding the concept of NFTs and has ceased Googling just what the heck they are.

Forbes may be farming engagement by tweeting a catchy headline, even if their supporting evidence is relatively light. In June of 2021, Protos reported the NFT bubble had burst and received a similar response as Forbes' article has. The data supporting their claim was also suspect: Protos compared a wild outlier of a day when $102 million worth of NFTs were sold, 500% higher than the second-highest day at the time, to the usual sale data, and concluded that interest had dropped 90%. Obviously, NFTs didn't go anywhere over the next nine months.

From this most recent discussion, it seems that NFTs in meme circles are still frowned upon by many. The celebration regarding the update is proof of this, highlighted by trends like Screenshotting NFTs and Flipped NFTs, among others attempting to clown on the new art form.

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