The NFT sector has experienced a significant decline following a surge at the end of 2024. In the first three months of 2025, the sales volume reached $1.53 billion, which is 63% lower compared to the same period in 2024.
This is reported by Finway
According to data from CryptoSlam, the sales volume from January to March 2024 was $4.15 billion. Even though March 2025 marked an annual high of $1.62 billion, the overall trend remained negative.
Decline in Sales Volume and Threshold Prices
During the same period in 2023, sales volumes had already reached $3.2 billion. The steepest decline was observed in March 2025, when sales volume amounted to only $373 million, which is 76% lower compared to March 2024.
Among the five largest collections, only three projects showed positive dynamics compared to 2024: Pudgy Penguins, Doodles, and Milady Maker. Sales of these collections increased by 13%, 41%, and 58% respectively. However, it is worth noting that the threshold price of the Doodles collection decreased from December to mid-March, reaching a low of 2.56 ETH.
Project Closures Due to Decreased Activity
At the same time, the threshold price of tokens from the Pudgy Penguins collection plummeted from 23.7 ETH to 8.3 ETH in mid-March, after which it partially recovered. A similar situation was observed with Milady Maker, although the positive trend seen in early March turned negative by the end of the month.
“98% of all NFTs released in 2024 are effectively ‘dead’, highlighting the decline in activity in this sector.”
This drop in activity is leading to the closure of previously successful projects. For example, LG Electronics announced the cessation of support and liquidation of its marketplace for smart TVs.