Global non-fungible token (NFT) sales totaled $2.82 billion in the first half of 2025, marking a modest 4.61% decline from the $2.96 billion recorded in the second half of 2024.
According to data from CryptoSlam, the market showed strong momentum in Q1 2025 with $1.59 billion in sales, before slowing to $1.24 billion in Q2. January led the year with the highest monthly volume at $679 million, while sales dropped to $388 million by June, reflecting a broader downtrend through the second quarter.
CryptoSlam’s figures account for both primary and secondary NFT sales across multiple blockchains. Primary sales refer to initial mints directly from creators, while secondary sales involve the resale of previously minted NFTs between wallets.
Despite the overall decline in dollar volume, market activity remained steady. Monthly transaction counts ranged between 4 million and 6 million, and the average NFT sale value hovered between $80 and $100 during the first half of 2025.
DappRadar data reveals a steady decline in quarterly trading volumes
A recent report from DappRadar highlights a continued decline in NFT trading volumes and sales counts throughout 2024—a trend that has extended into 2025. In Q2 2025, trading volumes fell to $823 million, down 45% from $1.5 billion in the previous quarter.
However, despite the sharp drop in trading value, NFT sales activity showed signs of revival. The second quarter saw 12.5 million individual NFT sales transactions, marking a 78% increase compared to Q1 and breaking a four-quarter streak of declining sales counts.
DappRadar’s data tracks the total value of NFT transactions across marketplaces and decentralized applications, as well as the number of individual sales. The surge in transaction count, despite falling volumes, suggests that NFTs are becoming more accessible in price—yet still maintaining strong collector interest.
Declining volumes point to a “more sustainable” or “healthier” market
Aubrey Terrazas, vice president of marketing at NFT platform Rarible, told Cointelegraph that declining volumes indicate a healthier, more sustainable market.
“We’re moving beyond pure speculation toward real utility and community-driven projects,” Terrazas said. “While prices have stabilized, interest and innovation remain strong.”
She added that the rise in sales counts alongside lower dollar volumes points to greater accessibility and affordability, driven by multichain expansion and emerging ecosystems.
According to Terrazas, these trends suggest the NFT market is evolving beyond its earlier hype cycles and entering a more mature, long-term growth phase.
“Demand for digital assets is still strong, and we’re seeing NFTs power real go-to-market strategies for partners to build loyal communities and unlock new revenue streams.”
Snoop Dogg’s Telegram-based NFTs sell out in just 30 minutes
While overall interest in NFTs may be tapering off in some areas, standout launches are still making waves. On Wednesday, American rapper Snoop Dogg sold out nearly one million NFTs on Telegram in just 30 minutes, underscoring continued enthusiasm in the space.
The collection—featuring 996,000 digital gifts minted on the TON blockchain—brought in $12 million in sales, according to Telegram founder Pavel Durov.
TON’s head of NFTs, known as Zenith on X, suggested that the success of Snoop Dogg’s drop could ignite a “new NFT narrative” centered around Telegram.
