My favorite word used in the poem is "despair" because it has two meanings: 1. Fearing Ozymandias 2. Feeling bad for Ozymandias because it isn't ancient Egypt anymore.
It really has a past and future effect. A once powerful and feared king is not in power anymore. Ozymandias the king of kings was an actual person. he was Rameses II. He was one of the greatest Egyptian Pharaohs of all time but today all he is, is someone known in history class.