Social Media Sentiment Around NFT Hits Lowest Level In July 2022, Finds GlobalData

Social Media Sentiment Around NFT Hits Lowest Level In July 2022, Finds GlobalData
Social Media Sentiment Around NFT Hits Lowest Level In July 2022, Finds GlobalData

Categories :

By citiesabc news - Sep 15, 2022

Non-Fungible Token (NFT) has become one of the broadly adopted digital marketplaces in the last couple of years. However, recently the market has fallen off the cliff. The fading crypto market is one of the key reasons behind the fall.

Social Media Sentiment Around NFT Hits Lowest Level In July 2022, Finds GlobalData

The market also got impacted due to the rise in shaky investment sentiment, as it is rife with scams by shady creators. Against this backdrop, the social media  (Twitter and Redditor) discussions around NFT have hit the lowest level in July 2022, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.

GlobalData observes the social media discussions around the NFT have been declining since the beginning of 2022 and fell by more than 40% in the last three months (June-August) compared to the previous three months.

Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Influencer sentiment around NFT is getting suppressed due to the recent fall in NFT token transactions led by the lack of data security and plagiarized tokens. One of the sharp falls in social media  sentiment was noticed in July, fueled by an e-mail data breach in Ozone Network Inc (OpenSea), one of the most popular NFT marketplaces.”

NFT market is struggling to sustain its previous growth due to the scourge of hacks. Social media conversations around ‘Hacking’ surged by 450% in 2022*, when compared to the previous year.  Other than OpenSea e-mail breach, some of the notable hacks on NFT platform in 2022 were on Lympo, Boarde Ape Yatch Club, Omni, DragonSB Finance, and Premint, where millions of dollars have been stolen.

A similar trend was also observed in the company filings during 2022. In Q2 2022, sentiment fell by 14% to a score of 0.86, demonstrating a decline in the optimism around NFTs due to rising discussions about the downturn in the cryptocurrency market, according to the GlobalData’s Company Filing Analytics database.
An analysis of GlobalData’s Job Analytics Database reveals that NFT-related job postings started declining and recorded 50% fall during the last three months (June-August) over the previous three months.

Tags

Dinis Guarda Reviews ‘Step Into The Metaverse’ by Mark Rijimenam on BooksABC Series

Dinis Guarda Reviews ‘Step Into The Metaverse’ by Mark Rijimenam on BooksABC Series

Oct 04, 2022
Gaurav Singh, Founder of JPIN – Spiritual Economics And Sustainable Investments

Gaurav Singh, Founder of JPIN – Spiritual Economics And Sustainable Investments

Oct 03, 2022
Metaverse, Green Tech, Cybersecurity… Tech And The Future At The Bloomberg Tech Summit In London

Metaverse, Green Tech, Cybersecurity… Tech And The Future At The Bloomberg Tech Summit In London

Sep 30, 2022
The Future of Metaverse Online Gaming

The Future of Metaverse Online Gaming

Sep 30, 2022
Digital ID, Financial Security, Metaverse – Dinis Guarda Interviews Lars Seier Christensen, Founder of Concordium and Saxo Bank

Digital ID, Financial Security, Metaverse – Dinis Guarda Interviews Lars Seier Christensen, Founder of Concordium and Saxo Bank

Sep 28, 2022
The AARON Retrospective Exhibition: Celebrating Harold Cohen, the Forefather of Computer Art

The AARON Retrospective Exhibition: Celebrating Harold Cohen, the Forefather of Computer Art

Sep 27, 2022
BooksABC, The New Youtube Series By Author And Entrepreneur, founder of citiesabc.com openbusinesscouncil.org Dinis Guarda, Kicks Off With “The Metaverse Handbook” Review

BooksABC, The New Youtube Series By Author And Entrepreneur, founder of citiesabc.com openbusinesscouncil.org Dinis Guarda, Kicks Off With “The Metaverse Handbook” Review

Sep 27, 2022
Shift Towards Circular Economy Driving Digital Transformation in Packaging Sector, Finds GlobalData

Shift Towards Circular Economy Driving Digital Transformation in Packaging Sector, Finds GlobalData

Sep 26, 2022
The ‘Most Hyped’ Upcoming Games, According To Google

The ‘Most Hyped’ Upcoming Games, According To Google

Sep 26, 2022
The Metaverse Isn’t Dying – “The Experts” Just Keep Getting It Wrong

The Metaverse Isn’t Dying – “The Experts” Just Keep Getting It Wrong

Sep 23, 2022