Whatever happened to NFTs? Data shows remarkable drop as ‘AI’ takes off

Demand for NFTs and metaverse marks in the US fall by more than 500% in last two years | Applications for artificial intelligence show “steady rather than spectacular” growth.

Interest in acquiring rights in the metaverse and for non-fungible tokens (NFTs) has nosedived dramatically over the past two years but demand for artificial intelligence (AI) marks has increased significantly, data from IP offices reveal.

At its peak, the non-fungible token market reached $21 billion in May 2022, according to Forbes.

Currently, 95% of NFTs created in the 2021-2022 NFT craze are now worthless, according to dappGambl researchers.

A chart compiled exclusively for WIPR by IP services Clarivate looking at NFT and the metaverse applications filed between January 2021 and May 2024 at the US Patent and Trademark Office (USPTO) and the EU Intellectual Property Office (EUIPO) show “exponential” growth in early 2021.