The NFT market capitalization has declined to around 1.5 billion USD, a level reminiscent of pre-2021 hype. This drop is part of a broader cryptocurrency market downturn, gaining attention as Bitcoin and Ethereum also saw significant value reductions.
Despite a surge in NFT minting in 2025, total sales fell by 37% year-on-year to approximately 5.6 billion USD. The rising NFT supply coupled with declining demand is creating challenges in the market, evidenced by many corporate exits and marketplace shutdowns.
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