The non-fungible token (NFT) market is witnessing a strong rebound in activity this year, as sales volume has reached levels unseen since 2022, according to a new report from DappRadar.
While overall trading volumes remain relatively subdued due to lower average prices, the number of transactions has surged sharply throughout 2025.
From Slump to Surge
In the first quarter, 7 million NFT sales were recorded, rising to 12.5 million in the second quarter. The momentum accelerated further in Q3, with over 18.1 million NFTs sold, representing a 45% jump from the previous quarter, and generating $1.6 billion in trading volume.
Despite this surge in transaction counts, DappRadar stated that actual user adoption remains modest. The number of unique wallets trading NFTs rose from 1.66 million in Q1 to 2.14 million in Q3, a comparatively smaller increase than the spike in sales. This means that individual wallets are trading more NFTs on average, jumping from roughly 4.2 per wallet in Q1 to 8.4 in Q3, which indicates that existing participants are becoming more active rather than new users entering the market.
Among NFT categories, gaming has been the notable laggard. DappRadar reported a 17% drop in trading volume and a steep 32% decline in the number of gaming-related NFT transactions over the past quarter.
On the other hand, the sports NFT sector has seen an impressive revival, as trading volume of this cohort was up by 337% to $71 million while sales count soared 143% to 4.1 million. The surge is largely attributed to Sorare, the fantasy sports platform offering digital collectibles across football, basketball, and baseball. The platform’s success, buoyed by the launch of new sports seasons, has helped offset weakness in other sectors.
Airdrops and OG NFTs
The recent uptick can also be linked to strategic campaigns and revived interest in older projects. A major contributor has been OpenSea’s campaign ahead of its anticipated token launch, which rewarded active traders and incentivized frequent transactions. This initiative encouraged users to trade lower-value NFTs to qualify for rewards and boosted the platform’s overall activity.
As a result, OpenSea’s sales count climbed 29% in Q3 to 9.27 million assets sold.
Simultaneously, profile picture (PFP) collections have regained prominence, led by blue-chip projects like CryptoPunks, Bored Ape Yacht Club (BAYC), Moonbirds, and Pudgy Penguins. Trading volume for PFPs rose 187% quarter over quarter to $544 million, amidst renewed collector confidence.
Adding to the resurgence, Yuga Labs streamlined its portfolio to focus on BAYC, Mutant Ape Yacht Club (MAYC), and Otherside during the same period. Meanwhile, Moonbirds, now under Orange Cap Games, has emerged as Q3’s standout revival, recording 8,311 NFT sales worth $88 million, owing to the fresh momentum building around its upcoming BIRB token launch on Solana.
