NFT Market Reaches $2.8 B in H1 2025 Despite Slumping Trading Volumes

In the first half of 2025, the global NFT market recorded approximately $2.82 billion in sales—marking a modest decline of 4.6% from the $2.96 billion seen in the latter half of 2024 TradingView+1Binance+1. The market’s performance was front-loaded: Q1 kicked off strong with $1.59 billion, but momentum tapered in Q2 to $1.24 billion .

January emerged as the standout month, bringing in around $679 million in sales, while activity dwindled to approximately $388 million in June TradingView. Despite this fluctuation, monthly transaction counts remained relatively steady between 4 and 6 million, with the average NFT sale peaking between $80 and $100 TradingView.

The downward trend became more pronounced in Q2: trading volumes dropped to $823 million, a 45% decrease from the previous quarter’s $1.5 billion, according to DappRadar TradingView+1Decrypt+1. Surprisingly, though, the number of individual sales held firm—with over 12.5 million trades logged in Q2, signaling resilient buyer interest despite lower dollar volumes .

Aubrey Terrazas, VP of marketing at Rarible, framed this shift as a maturation of the market, suggesting that recent behaviors reflect healthier fundamentals: “We’re moving past pure speculation into real utility and community‑driven projects,” she told Cointelegraph. According to Terrazas, while prices have cooled, innovation and engagement continue to drive the sector TradingView.

May showed signs of renewed energy. After months of decline, CryptoSlam data highlighted a 15% monthly rebound, with sales reaching $430 million—potentially the first uptick of 2025 Binance+3Cointelegraph+3Aicoin+3. Unique buyers surged by 50% in May—from around 622,000 to 936,000—while the number of sellers hit a historical low, recorded at approximately 285,000 Decrypt+3Cointelegraph+3Aicoin+3. Analysts pointed to this buyer‑seller dynamic as a precursor for renewed competition and potential price recovery Cointelegraph+1Aicoin+1.

Looking ahead, industry observers anticipate the market will bounce back, albeit with more lasting foundations and without echoing NFTs’ euphoria during 2021–2022. CryptoSlam strategist Yehudah Petscher noted that the rebound may hinge on overall crypto cycles, particularly Bitcoin’s performance Aicoin+1Cointelegraph+1. At the same time, DappRadar analyst Sara Gherghelas suggested that Real-World Asset (RWA) NFTs—those tied to actual physical assets—could inject fresh momentum and unlock new market segments Cointelegraph+1Aicoin+1.