Summary
- It was reported that the NFT market's sales volume has been on the decline for five consecutive quarters.
- In the second quarter of this year, NFT sales were only about $823 million, which is about 20% of the same period last year.
- There are no prospects for recovery even in 2025, and existing collections like BAYC as well as small-scale projects are all experiencing significant downturns.
It has been found that the downturn in the non-fungible token (NFT) market is becoming prolonged.
On the 9th, the cryptocurrency-specialized media outlet CryptoPolitan, citing data from DappRadar, reported, "In the second quarter of this year, NFT sales amounted to about $823 million, which is only 20% of what was recorded during the same period last year ($4 billion)."
This is a decrease of about 19% compared to the first quarter of this year as well, marking five consecutive quarters of declining NFT sales.
The media stated, "2025 is shaping up to be the worst year in NFT history, with no prospects for recovery. Even small-scale projects that are competing to prove their value and utility, such as BAYC and other existing collections, are staggering due to the sharp downturn."
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