- NFT trading volume decreased by 80% to $823 million.
- Sales transactions increased 78% during the same period.
- Market shifts show growing interest in gaming NFTs.
NFT trading volumes dropped dramatically in Q2 2025, plummeting from $4 billion in Q2 2024 to $823 million, marking an 80% decrease.
The decline signals a shift in the NFT landscape, with reduced interest in traditional projects and rising demand for gaming NFTs, resulting in increased transactions despite lower trading volumes.
The dramatic drop in NFT trading volume to $823 million from $4 billion highlights a major change in the market landscape. This marks the fifth consecutive quarterly decline since the peak in 2022, reflecting a significant downturn in investor interest in high-value NFTs. Key on-chain projects included TON’s domain NFTs and the Guild of Guardians gaming NFTs observed distinct impacts. Despite the trading volume crash, the number of sales surged by 78%, indicating accessibility is broadening and lower average prices are attracting new traders.
“Despite an 80% drop in trading volume, sales transactions surged by 78%, driven by lower average prices and an expanded range of buyers.” – AINVEST
The immediate effects on industries include the removal from high-value trading towards increased accessibility for low-cost NFTs. Sales numbers climbed even as overall trade volumes declined, suggesting a democratization of the NFT market. Financially, the Ethereum blockchain’s total value locked surged by 28% due mainly to Ethereum’s 36% price recovery, even as NFT trading volumes faced contraction.
Technological and market adjustments could see increased focus on decentralized finance (DeFi) and real-world asset (RWA) tokenization. While traditional PFP NFTs saw a decline, sales of gaming and real-world asset NFTs like those on platforms such as Courtyard rose. The adjustment points to potential shifts in NFT use cases and underlying industry strength, hinting at long-term diversification beyond PFPs.
