Global NFT sales reached $2.82 billion in the first half of 2025, according to CryptoSlam, showing a slight 4.61% decrease compared to the $2.96 billion recorded in the second half of 2024. The year started strong, with Q1 sales totaling $1.59 billion, but activity cooled in Q2, with sales falling to $1.24 billion.
January 2025 stood out as the best-performing month with $679 million in NFT sales, while June recorded just $388 million, reflecting a declining trend through the second quarter.
CryptoSlam’s data tracks both primary sales (first-time NFT mints sold by creators) and secondary sales (resales on marketplaces), offering a full picture of wallet-to-wallet activity across multiple blockchains.
Trading Volumes Drop, But Transactions Rise
While dollar volumes have dropped, other metrics tell a more nuanced story. According to DappRadar, NFT trading volume in Q2 2025 was $823 million, down 45% from the $1.5 billion in Q1. This continues a longer-term downward trend that began in 2024.
NFT trading volume and sales count from Q2 2024 to Q2 2025. Source: DappRadar
However, sales counts surged, with 12.5 million NFTs sold in Q2, a 78% increase from the previous quarter. This marked the first quarter-over-quarter growth in sales count in over a year.
This trend suggests that NFTs are becoming more affordable and accessible, with smaller, lower-value transactions dominating the space.
Experts Say Market Is Healthier, More Mature
Aubrey Terrazas, Vice President of Marketing at Rarible, believes the dip in volume is a positive development for the long-term health of the NFT space.
“We’re moving past pure speculation into real utility and community-driven projects,” she told Cointelegraph.
Terrazas points to:
More affordable price points
An increase in multichain participation
A shift from hype-driven buying to utility-focused innovation
According to her, these trends reflect a healthier, more sustainable market with broader appeal and real-world use cases.
Snoop Dogg’s NFTs Sell Out in 30 Minutes
Even in a quieter market, standout drops continue to show that public interest in NFTs hasn’t disappeared.
In July, Snoop Dogg launched a collection of 996,000 NFTs on Telegram, which sold out in just 30 minutes, generating $12 million in revenue. The collection, built on the TON blockchain, sparked massive engagement and drew praise from Telegram founder Pavel Durov.
TON’s NFT lead, known as Zenith, said the success of this drop could create a “new NFT narrative” focused on platform-native collectibles and community-driven sales.
NFTs Shift Toward Broader Adoption
The first half of 2025 reflects a key shift in the NFT landscape:
Dollar volumes are down, but activity is not disappearing
Buyers are becoming more diverse and price-conscious
The market is moving away from speculative mania toward utility, community, and innovation
While the explosive growth of 2021 and 2022 is behind us, NFTs are finding their footing in more practical, inclusive, and strategic ways and that may prove even more valuable in the long run.
