The volumes of transactions in the NFT art sector have collapsed by 93% over the past 4 years

The ART NFT market, which survived the rapid growth in 2021, collided with a sharp decline. In those days, the volume of bidding reached $ 2.9 billion, and individual digital works were sold for record amounts. One of the most famous examples was the work of Beeple under the name EveDays, purchased for $ 69.3 million. However, by the 1st quarter of 2025, the market decreased by 93%-the volume of transactions and completely fell to $ 23.8 million. The number of active traders dropped from 529.1 thousand to 19.57 thousand in 2025, which, which 96% less.

The Covid-19 pandemic contributed to an increase in interest in digital assets, accelerating the transition of artists to the Web3 industry. NFT art has become a new form of creative independence, and virtual collections have been recognized even among traditional art dealers. However, 3 years after the peak of excitement, the demand has decreased significantly. The average price of ART NFT, which reached $ 2044 in 2021, fell by 39% in 2022 and continued to decline to $ 475 in 2023.

Despite the overall decrease in interest, the NFT market continues to transform. Interest in digital objects on the Bitcoin blockchain (Ordinals) shows the reverse dynamics. In 2023, the average price of such NFT was $ 63, and in the 1st quarter of 2025 it increased by 896%, reaching $ 633. This indicates a shift in the interest of collectors from Ethereum-founded assets to alternative ecosystems.

Another indicator of market falling is a decrease in the liquidity of top collections. The TOP-20 of the popular NFT series of 2021 by 2024 lost an average of 95% of the trade volume and the number of transactions. In conditions of reducing speculative interest in the market, only the most stable projects and collectors focused on long -term investments remain.

Despite the collapse, this does not mean the end of the Art NFT industry, but only the transition of the sphere to a new stage of development. Instead of quick speculation, a more stable community of collectors is formed, ready to invest in unique digital work. The NFT industry industry begins to become mature, and the key factors became authenticity and artistic value, and not short-term benefits.

Author

Peter Ivanov