Since its peak in September 2021, global NFT sales have been consistently falling, with collectors spending less and less on digital artwork. However, 2025 is bringing a new hit, with the NFT marketplaces facing worrying market projections.
According to data presented by CryptoPresales.com, the global NFT marketplace revenues are expected to plunge by $75 million or 11% year-over-year in 2025.
The second largest revenue drop in the NFT market’s history
Investors’ appetite for non-fungible tokens has significantly cooled after the 2022 crypto winter, with the number of sales and sales value falling deep below the levels seen at the market’s peak. And while it seamed the market had regained some of its momentum this year, 2025 brings a new threat, as NFTs face multiple challenges.
Much of the initial interest in NFTs was driven by speculation. However, as the hype faded and resale values plummeted, many investors exited the market. The flood of low-quality projects was another significant downturn. Then there are environmental concerns.
Many NFTs, particularly those minted on energy-intensive blockchains, faced backlash due to their ecological impact, pushing away environmentally conscious buyers. While emerging NFT use cases like metaverse and gaming offer potential, they are not enough to offset the expected revenue slump.
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According to a Statista Market Insights survey, NFT marketplaces, the number one spot for people looking to trade or invest in this digital asset, are facing a severe revenue drop after a solid 12% growth and $684 million in revenue this year.
With investor’s interest in NFTs further cooling, global NFT market revenues are expected to plunge by $75 million or 11% in 2025, marking the second-largest drop in the market’s history after 2023. Last year alone, NFT marketplace revenues plunged by a massive 62%, driven by economic conditions, market saturation, and reduced speculative interest.
User growth to remain flat in 2025
Besides losing tens of millions of dollars in revenue, the NFT space also faces a year with practically no new users. Statista expects user growth to remain flat in 2025, with roughly 11.6 million people registered on platforms like OpenSea, SuperRare, or Rarible, the same as this year.
However, the number of registered users and the number of active NFT wallets are two different things. According to NonFungible data, the number of active buyers and sellers in the NFT space has been continually falling over the past three years and hit a new low in 2024.
Last week, the NFT market counted around 17,700 active wallets, only half the number seen in November last year. The number of sales plunged by 56% year-over-year to 37,600 last week.
