NFT Market Dips to 2025 Lows as Buyers and Sellers Retreat

Non-fungible tokens (NFTs) continued their decline in December, slumping to the lowest market valuations recorded in 2025.

According to CoinGecko data, the total valuation of the NFT market dropped to $2.5 billion in December, which is a 72% decrease from the peak of $9.2 billion in January.

This downturn occurred as NFT sales activity remained low following a weak performance in November. During the first three weeks of December, weekly NFT sales did not exceed $70 million, falling short of November’s levels.

December is reinforcing the downward trend observed in late 2025 as liquidity decreases towards year-end. Despite a renewed interest in use cases driven by a rise in physical collectibles like Labubu and Pokémon cards earlier in the year, the NFT market has yet to regain its former status.

Fewer market participants drive NFT sales decline

The NFT sales decline coincided with a significant reduction in market participation, as both buyers and sellers became less active in December.

Data from CryptoSlam indicated that unique buyers dropped to 184,302 in the first week of December, down from 204,032 in the last week of November. Buyer participation continued to fall, reaching 135,120 by the third week of December.

Sellers experienced a similar decline. Data revealed that unique sellers decreased by 35.6% during this period, falling below the 100,000 mark for the first time since April 2021.

Transactions also took a hit. According to CryptoSlam, total NFT transactions in the third week of December fell to 800,000, with the month’s opening week recording fewer than 1 million transactions.

Related: NFTs shifted to utility and culture as price faded in 2025

Blue-chip NFT prices slide despite pockets of resilience

Performance of floor prices among top NFT collections reflected the broader market slowdown, with most of the leading 10 projects by market cap experiencing double-digit declines over the past 30 days.

CoinGecko data showed that flagship collections such as CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins saw price drops ranging from 12% to 28%, indicating downward pressure even on established NFT brands.

Nevertheless, art-centric collections like Autoglyphs, Fidenza by Tyler Hobbs, and Chromie Squiggle by Snowfro fared better, posting modest gains during the same period.

Interestingly, a collection called Sports Rollbots entered the top 10 NFT collections by market cap, with a floor price of $5,800 and a valuation exceeding $58 million. This newcomer displaced the Mutant Ape Yacht Club from the top 10.