NFTs shifted focus to utility and culture as prices gradually declined in 2025

2025-12-25 04:43:35

Abstract generation in progress

The NFT market has undergone profound changes since the boom period in 2021. Back then, record-breaking sales like Beeple’s $69.3 million artwork or Deepak Thapliyal’s $23.7 million CryptoPunk reflected a wave of speculation, pushing digital collections to unprecedented prices and quickly gaining recognition from major institutions.

By 2025, the landscape has completely changed. NFT trading volume has plummeted, quarterly sales decreased by 63% compared to the same period, and monthly revenues hit multi-year lows. The market focus has shifted away from shock value to practical applications, community strength, and long-term sustainability.

However, some collections still maintain their appeal. Pudgy Penguins experienced growth through expansion into physical products, while CryptoPunks focus more on cultural value rather than price volatility. Overall, the NFT market is entering a mature phase, becoming more focused, sustainable, but narrower.

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