NFT Sales Plunge In Q1 2025, Down +50% From Q4 2024

Join Our Telegram channel to stay up to date on breaking news coverage

The global non-fungible token market has collapsed again, with its trading sales volume and floor price values plunging month-over-month. An in-depth market analysis indicates that the trading sales volume has dropped by more than 50% in Q1 2025 from the previous quarter. In the past three months, the global non-fungible token market has raised a trading sales volume of $1.05 billion.

NFT Sales Fall +50% In Q1 2025

Data compiled by Tiexo.com, an on-chain non-fungible token collection explorer and an analytic hub, shows that the global non-fungible token market has plunged again in sales in Q1 2025. In the past 90 days, the global NFT market has attracted a trading sales volume of over $1.0 billion, representing a 52% decline from the previous quarter. In Q4 2024, the NFT sales volume surged to over $2.2 billion, a 96% increase from the $1.12 billion in Q3 2024.

The global non-fungible token market entered the new year healthy, but things turned around mid-way. In January 2025, the global NFT market recorded a trading sales volume of $697 million, down 24% from $901 million in December 2024. At the time, many industry experts termed the decline as a healthy correction. The NFT market decline turned serious in February after sales fell again. In February, the NFT market recorded a trading sales volume of $476 million, down 29% from January 2025.

Source: cryptoslam.io, NFT sales volume by months

In March 2025, the global non-fungible token market suffered another blow, with its trading sales volume flipping to $413 billion, down around $64 million from the previous month. The recent NFT market decline is associated with the general crypto market downturn. In recent weeks, the crypto market has fallen due to the escalating trade war led by HE President Donald Trump’s latest tariffs and massive long liquidations.

Top NFT Marketplaces In Q1, 2025

Blur, a renowned non-fungible token marketplace and aggregator platform offering advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons, has been the leading NFT marketplace in Q1 2025. In the past 90 days, the NFT marketplace has amassed a trading sales volume of $397 million, representing 37.84% of the total market share.

OpenSea, one of the world’s largest digital market platforms for non-fungible tokens and crypto collectibles, has been the second most-traded NFT marketplace in Q1 2025. In the past 90 days, the OpenSea NFT marketplace has recorded a trading sales volume of $380 million, taking 36% of the total market share. During this time, the Ethereum NFTs took the lion’s share, amassing 85% of the total trading sales volume.

Source: Tiexo.com, Five top-traded NFT marketplaces

Magic Eden, another leading multi-chain digital market platform supporting non-fungible tokens on Solana, Ethereum, Polygon, Bitcoin and more, has been the third leading NFT marketplace in Q1, 2025. In the past 90 days, the Magic Eden NFT marketplace has recorded a trading sales volume of $161 million. During this period, the Bitcoin Ordinals NFTs took the largest share, accumulating 60% of the total trading sales volume. Solana NFT collection took 38 % of the total market share.

CryptoPunks, a renowned NFT marketplace dedicated exclusively to the iconic 10,000-pixilated CryptoPunks NFT collection, has been the fourth leading NFT market platform in Q1 2025. In the past 90 days, the CryptoPunks NFT marketplace has recorded a trading sales volume of $41 million, taking 3.96% of the total market share. Ethereum NFT collection took 100% of the total market share.

Tensor, a renowned non-fungible token marketplace that provides users with a smooth, fast, and secure NFT trading platform, has been the fifth leading NFT marketplace in Q1 2025. In the past 90 days, the Tensor NFT marketplace has raised a trading sales volume of $29 million, taking 2.80% of the total market share. During this time, the Solana-based NFTs took 100% of the total sales volume.

Five Top-Selling NFTs In Q1, 2025

Pudgy Penguins, a non-fungible token collection from the digital asset firm Igloo that features a fixed edition of 8,888 NFTs hosted on the Ethereum blockchain network, has been the top-selling NFT collection in Q1 2025. In the past 90 days, the Pudgy Penguins NFT collection has raised a trading sales volume of $125 million. During this period, the Pudgy Penguins NFT sale volume has plunged by 26% from the previous quarter.

Source: Tiexo.com, top selling NFT collections in Q1 2025

Azuki, a non-fungible token collection from the digital asset firm Chiru Labs featuring a limited edition of 10,000 anime-themed NFTs hosted on the Ethereum blockchain network, was the second most-selling NFT collection in Q1 2025. In the past 90 days, the blue-chip Azuki NFT series recorded a trading sales volume of $114 million. During this time, the Azuki NFT sales surged by 84% from the previous quarter.

Doodles, a globally acknowledged non-fungible token collection from the digital artist Burnt Toast featuring a limited edition of 10,000 cartoon NFTs hosted on the Ethereum blockchain network, was the third most-selling NFT collection in the NFT market in Q1 2025. In the past 90 days, the Doodles NFT collection has amassed a trading sales volume of $47 million. During this time, the Doodles NFT sales volume surged by 53% from the previous quarter.

CryptoPunks, a non-fungible token collection featuring a limited set of 10,000 Ethereum-based NFTs previously from Larva Labs but now managed by the Bored Ape creator Yuga Labs, has been the fourth most-selling NFT collection in Q1, 2025. In the past 90 days, the CryptoPunks NFT collection recorded a trading sales volume of $40 million, representing a 13% plunge from the previous quarter.

Lil Pudgy, another non-fungible token collection from the digital asset firm Igloo featuring a fixed edition of 22,222 NFTs hosted on the Ethereum blockchain network, has been the second most-selling NFT collection in Q1 2025. In the past 90 days, the Lil Pudgy NFT collection has amassed a trading sales volume of $40 million, representing a 40% plunge from the previous quarter.