Last month was the weakest period for NFT sales in 2025. The market value decreased by several hundred million USD.
The latest figures show that demand for these assets continues to decline. Prices previously soared to record levels but then fell after the crypto winter of 2022.
NFT sales are sinking to new lows
November saw a significant decline. Total sales of non-fungible tokens (NFT) dropped to 320 million USD. This was nearly half compared to October's 629 million USD, according to CryptoSlam. Sales were close to September's 312 million USD and erased the slight rise in the sector during the fall.
According to CoinMarketCap, the weakness has continued into December. The first week only yielded 62 million USD in sales, which was the slowest week of the year.
The broader value perspective shows the same downward pressure. Data from CoinGecko shows that the market value for NFT marketplaces has dropped to 253 million USD, which is the lowest level to date. Prices continue to fall even for established collections.
This decline is not an isolated event but a continuation of a long, broad downturn. The development has changed the NFT market since the sharp rise in the early 2020s.
From hype cycle to hard reset
NFT entered public consciousness in 2020 when early art sales and experiments attracted small groups.
In 2021, the market became a cultural phenomenon. Transactions on platforms like OpenSea quickly rose to billions each month.
Collections like CryptoPunks and Bored Ape Yacht Club became status symbols. They attracted celebrities, global brands, and investors. The rise continued until early 2022 when NFT activity reached record levels.
The peak did not last long. When the cryptocurrency market weakened in the summer of 2022, NFT trading quickly declined.
Liquidity disappeared. Speculative capital retreated, and floor prices for major collections dropped significantly. Scandals about 'wash trading' damaged trust and oversupply increased pressure. Thousands of simple collections competed for limited attention.
Later in 2022, monthly volumes fell by over 90% from the peak. Over the next two years, the market continued to calm down.
Some utility NFTs, such as gaming items and loyalty tokens, maintained activity. However, the older profile picture collections became less significant. Marketplaces competed for users with various incentives. Often, this increased the volumes without delivering real profit.
By 2025, the sector has become quieter. Now it is a niche within the broader digital asset market.
