The NFT market faced significant challenges in the first quarter of 2025, with sales plummeting by 63% year-over-year. However, certain collections managed to defy the downturn and show growth.
NFT Sales Decline in Q1 2025
Q1 2025 was tough for the NFT market, with sales dropping from $4.1 billion in 2024 to $1.5 billion. March saw an especially sharp decline, with trading volumes down 76% compared to last year.
Market Leaders: Pudgy Penguins, Doodles, Milady Maker
Despite the overall downturn, some NFT projects succeeded. Pudgy Penguins achieved sales of $72 million, while Doodles increased their sales from $22.6 million to $32 million. Milady Maker showed the most significant growth, with revenues up by 58%.
Bitcoin NFT Market Outlook
The Bitcoin NFT market also faced a 79% sales decline, yet prices rose, reaching $633.24, exceeding the rates from 2024 ($559.05) and 2023 ($63.45).
Despite serious challenges, there remains a demand for successful NFT collections like Pudgy Penguins, Doodles, and Milady Maker. The Bitcoin NFT market shows signs of change with rising prices and decreasing sales.
