NFTs Fail to Regain Appeal as Investors Turn to New Ether ETFs

Many investors are betting that Bitcoin and Ether will set fresh highs this year, but there’s one corner of the cryptocurrency market that is getting the cold shoulder: nonfungible tokens.

The tokens, better known as NFTs, which can be digital artwork of apes or other collectibles recorded on blockchains, are losing even more of their appeal. This month Google searches for NFTs hit their lowest level since 2021, when the tokens began to enter the mainstream, according to Google Trends.

In the first five months of the year, NFT sales are down by more than 6% to $8.5 billion ...