Despite the brutal 63% drop in sales, some unexpected NFT collections are emerging, redefining the rules of an ecosystem in full transition.

The NFT market begins 2025 on a bitter note, with a brutal drop of 63% in sales. Industry icons, such as CryptoPunks and Bored Ape Yacht Club, are collapsing drastically!

The NFT market begins 2025 on a sour note, with a brutal 63% drop in sales compared to the same period in 2024, converging to $1.5 billion. Industry icons, such as CryptoPunks and Bored Ape Yacht Club, are collapsing drastically! Yet, amidst this chaos, some unexpected collections are emerging, boasting impressive sales gains and redefining the rules of an ecosystem in full transition.

NFTs: a market in free fall despite some resistors

In the first quarter of 2025, Bitcoin and Ethereum displayed catastrophic performances! They are not alone, as the non-fungible tokens (NFT) market also experienced a significant decrease, with sales declining by 63% compared to the same period in 2024, reaching $1.5 billion.

March was particularly hard hit, registering a 76% drop in sales, going down from $1.6 billion in March 2024 to $373 million in March 2025.

Despite this general downward trend, some NFT collections managed to stand out and record notable gains. Pudgy Penguins, for example, saw its sales rise to $72 million in Q1 2025, a 13% increase from the $63.5 million recorded during the same period in 2024.

Similarly, Doodles saw its sales rise from $22.6 million to $32 million, an increase potentially linked to its growing presence in the mainstream and a recent collaboration with McDonald’s. As for Milady Maker, an NFT collection based on Ethereum, it experienced the largest percentage increase, with a 58% rise in its sales volume.

The giants are wobbling…

On the other hand, other major collections experienced declines in their sales. CryptoPunks generated $60 million in Q1 2025, a 47% decrease from the $114 million recorded during the same period in 2024. The decline was even steeper for Bored Ape Yacht Club (BAYC), with a 61% drop in sales volume, going down from $78 million to $29.8 million.

Furthermore, Bitcoin-based NFTs saw their average price increase despite a significant decline in total sales volume. In Q1 2025, the average value of NFTs on Bitcoin reached $633.24, compared to $559.05 in 2024 and $63.45 in 2023. However, Bitcoin-based NFT sales plummeted dramatically to $291 million, a 79% decrease from the $1.4 billion recorded during the first quarter of 2024.

As the overall NFT market flounders, a few collections manage to assert themselves and capture public attention. This resilience in the face of the storm signals a new era for NFTs: more selective, mature, and only strong brands and innovative projects will emerge, much like Bitcoin miners after the trap awaiting them in a few days.