The cryptocurrency market has recently seen a notable surge, but interest in non-fungible tokens (NFTs) has significantly decreased, as indicated by Google Trends data. Despite the rising prices of various cryptocurrencies, searches for "NFT" have not matched those for "crypto," showing a clear shift in market interest.

This year, Google Trends shows that search interest for “crypto” reached its highest possible value of 100 in March. During the same period, searches for “NFT” only achieved a value of 10, indicating that NFTs are no longer capturing the public’s attention as they once did. This stark contrast highlights the changing dynamics within the digital asset market, where cryptocurrencies are currently dominating the conversation.

Historically, NFTs enjoyed a period of immense popularity, particularly during the 2021 bull run. However, despite the current rally in cryptocurrency prices, NFTs have struggled to regain their former prominence. For instance, data from May shows that while crypto searches continued to be robust, NFT searches remained minimal. This is a significant change from January 2022, when "NFT" searches even surpassed those for "crypto," with values of 82 and 66 respectively.

Supporting this observation, AltIndex.com reports a substantial decline in the number of active wallets holding NFT tokens, now at their lowest level since early 2021. This dramatic 90% reduction in NFT users since the peak in December 2021 underscores the sector’s struggles. It suggests that while cryptocurrencies are still thriving, the NFT market is experiencing a significant downturn.

Back in 2021, NFTs were the subject of widespread interest from celebrities and major corporations, adding to their allure and market value. They provided unique monetization opportunities for digital creators, making them a hot topic in investment circles. However, subsequent crises in the crypto industry and adverse market conditions have largely cooled this enthusiasm. The celebrity buzz that once propelled NFTs into the mainstream has faded, reflecting the broader challenges faced by the NFT market.

Parallel to the decline in NFTs, the broader concept of "Web3" has also seen a reduction in interest. Popular during the late 2021 and early 2022 period, "Web3" has experienced a sharp decline in search volume. In May, "Web3" searches were minimal compared to those for "crypto," indicating that this broader digital evolution concept is also losing traction.

In summary, the data from Google Trends illustrates a significant shift in interest away from NFTs and Web3 towards cryptocurrencies. This shift reflects changing market dynamics and evolving investor priorities. As cryptocurrency prices continue to rise, the focus appears to be firmly on crypto assets, with NFTs and Web3 losing their appeal. The future remains uncertain for these sectors, and it will be interesting to see if they can reclaim their past prominence or if they will continue to decline in the public eye.