• The search interest in the metaverse has decreased significantly, showing its fall from grace.
• Survey results indicate that while 92% of people have heard of crypto, only 8% are familiar with Web3.
• The collapse of the token economy and the pullback in the wider crypto space has dampened enthusiasm for Web3.
Decrease in Search Interest for Metaverse
Google search interest in the metaverse is down 92% from its peak, highlighting the fall from grace for the concept. This could be attributed to a variety of factors such as lockdown restrictions, stimulus packages and social distancing making it difficult to maintain excitement around virtual worlds.
Survey Results on Crypto and Web3
In a recent survey conducted by YouGov and Consensys, it was found that 92% of respondents globally said that they have heard of crypto, but only 8% considered themselves to be very familiar with the concept of Web3. This could suggest that while there is awareness about crypto currencies, there is still confusion or lack of knowledge surrounding what exactly Web3 is or represents.
Collapse of Token Economy
The collapse of token economy and pullback in wider crypto space has curtailed enthusiasm for certain concepts like metaverses and even Web3 itself. It could also mean that lofty predictions made about these technologies may not come to fruition as quickly as anticipated due to decreased public enthusiasm or lack thereof.
Web3 often has trouble defining exactly what it is, with abstract and shifting goals frequently changing with time which adds even more confusion around this technology – which could explain why so few people consider themselves familiar with web 3 despite being aware that cryptocurrencies exist generally speaking.
The failure of certain tokens or concepts within cryptocurrency can teach us valuable lessons when creating new tokens or projects; particularly regarding setting realistic expectations and providing clear descriptions rather than abstract ones which may lead to misunderstandings or disinterest in potential users or investors alike.