2025-03-29
NFT sales fell 63% in the first quarter
of 2025 compared to the same time last year.
Total sales were $1.5 billion from
January to March, down from $4.1 billion in Q1 2024. March saw the biggest
drop, with sales falling 76% to $373 million.
Even with the overall decline, a few
NFT collections; Pudgy Penguins, Doodles, and Milady Maker did well.
Pudgy Penguins had the highest sales of
any major collection, bringing in $72 million, up 13% from the $63.5 million it
made last year.
Doodles saw sales rise to $32 million,
up from $22.6 million, possibly helped by a partnership with McDonald’s.
Milady Maker had the biggest percentage
jump, with a 58% increase in sales. The anime-style avatars have gained
popularity online, including support from Ethereum co-founder Vitalik Buterin
and promotion from Su Zhu, co-founder of the now-defunct Three Arrows Capital.
Other top collections struggled:
CryptoPunks dropped 47%, down to $60 million in sales.
Bored Ape Yacht Club (BAYC) saw a 61%
decline, bringing in just $29.8 million.
Bitcoin NFTs Show Price Gains, But Sales Drop
NFTs built on Bitcoin actually saw
their average price rise to $633.24 in Q1 2025—up from $63.45 in 2023 and
$559.05 in 2024. But total sales volume for Bitcoin NFTs dropped 79%, falling
from $1.4 billion in early 2024 to $291 million in Q1 2025.
Some experts say Bitcoin NFTs, known as Ordinals, were overhyped and their moment has passed.
https://www.coingecko.com/en/nft
