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Last month marked the weakest period for NFT sales in 2025, with the market value falling by hundreds of millions of dollars.
The latest numbers reinforce the continued decline in demand for these assets, which had previously risen to record levels before entering a prolonged reversal after the crypto winter of 2022.
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NFT sales are at record lows
The November recession was severe. Sales decreased Non-Fungible Tokens (NFT) At $320 million, almost half compared to $629 million in October, according to the website CryptoSlam. This brings monthly activity back to about $312 million in September, erasing what remains of the momentum the sector regained earlier in the fall.
According to CoinMarketCap, this weakness actually continued in December, with the first seven days generating only $62 million in sales, marking the slowest weekly performance of the year.
The broader picture of the assessment Reflecting the same downward pressure. CoinGecko data shows that the market capitalization of NFT markets has fallen to $253 million, an all-time low, with prices continuing to fall even in the most popular collections.
This retreat It is not an isolated event Rather, it is a continuation of a broader recession that has reshaped the NFT landscape since its explosive growth in the early 2020s.
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From the hype cycle to the hard reset
NFTs first entered the public consciousness in 2020, when the first art sales and demo drops attracted niche communities.
By 2021, the market has become a complete cultural phenomenon. Trading volumes are increasing rapidly on platforms such as OpenSea At billions of dollars per month.
Groups like CryptoPunks have changed and Bored Ape Yacht Club in status symbols. They attract celebrities, global brands and institutional investors. This momentum continued into early 2022, when NFT activity reached record levels.
This peak did not last. With the broader cryptocurrency market weakening in mid-2022, NFT trading volumes contracted rapidly.
Liquidity is drying up. Speculative capital has decreased, and floor prices in major collections have fallen dramatically. Snitch trading scandals damage confidence, and saturation adds to the pressure. Thousands of low-effort groups compete for limited attention.
By the end of 2022, monthly volumes will decrease More than 90% of its peak. In the following two years, the market continued to normalize.
Some NFTs that pay interest, such as game assets and loyalty tokens, I keep the active bags constant. But the old photo collections have lost their relevance. Markets were fighting for users with strong incentives, often increasing sales volume without making a real profit.
By 2025, the sector has shifted to a more subdued role. It now operates as a niche sector of the broader digital asset market.
