After a notable increase at the end of 2024, the NFT sector has once again experienced a decline in sales volume. According to CryptoSlam, the sales volume in the first three months of 2025 amounted to $1.53 billion, which is 63% lower compared to the same period last year.
This is reported by Business • Media
In comparison to the period from January to March 2024, when sales volume reached $4.15 billion, the decline is significant. In March 2025, the sales volume was recorded at $373 million, which is 76% lower than in March 2024. This indicates that even collections that previously showed growth have suffered substantial losses in their floor prices.
Dynamics of the Largest NFT Collections
Among the top 5 largest collections, only three projects — Pudgy Penguins, Doodles, and Milady Maker — showed positive sales dynamics compared to 2024, increasing by 13%, 41%, and 58% respectively. However, despite this, the floor prices for Doodles decreased from December to mid-March, reaching a local minimum of 2.56 ETH.
Closure of Popular Projects
The decline in activity in the NFT sector is leading to the closure of previously large and popular projects, including LG Electronics announcing the cessation of support and liquidation of its marketplace for smart TVs. According to a report by NFTEvening and Storible, 98% of all NFTs released in 2024 have effectively turned out to be “dead,” highlighting the crisis in the industry.