Last year, the crypto hype was at its peak, leading to a massive crypto, NFT and Metaverse industry. However, just one year on, and the buzz around these technologies is already gone… but companies are still trying.
Metaverses and NFTs are popular than ever?
Reported by Coin Telegraph, there are more companies creating metaverses and NFTs than ever before. Simply judging by trademark filings, the industries are massively expanding.
Compared to this time last year, Metaverse and NFT filings are up. In 2021, a total of 3,516 trademark applications were filed. This year, a total of 3,600 have been filed, a small increase, but still an increase.
Furthermore, NFT trademark filings saw an even greater increase. 2021 saw a total of 2,087 trademarks. In comparison, this year has seen over 5,800 — the industry has technically skyrocketed.
Supply for who?
While companies and entrepreneurs are trademarking more metaverses and NFTs than ever before, there isn’t anywhere near as much bite from customers as last year. In fact, the industry is still in a huge decline.
After several crypto crashes and numerous failed NFT projects, the crypto-dependant industries are dropping. While markets like Metaverse real estate are still active, they are not as popular as investors would like.
Nevertheless, companies are not giving up on making the Metaverse a real product. Alongside Meta, brands are funnelling money into the virtual world in an attempt to make it a product you can’t ignore.
Perhaps, it’s not time for The Metaverse or NFTs; maybe they will be a successful future technology. On the other hand, maybe they won’t be popular for the foreseeable future, and companies just have to deal with that.