Sales of non-fungible tokens (NFTs) dropped sharply in the first quarter of 2025, plunging 63% year-over-year. Still, a few standout collections defied the downturn and posted gains.
NFTs recorded $1.5 billion in total sales from January to March 2025, down from $4.1 billion during the same period in 2024, according to data from aggregator CryptoSlam. March accounted for the steepest decline, with sales falling 76% to $373 million compared with $1.6 billion last year.
Despite the slowdown, collections including Doodles, Milady Maker and Pudgy Penguins outperformed expectations, showing strength amid the downturn.
Pudgy Penguins, Doodles, Milady defy NFT downturn in Q1
Among the largest NFT collections, CryptoPunks recorded $60 million in Q1 2025 sales, down 47% from $114 million in the first quarter of 2024.
The Bored Ape Yacht Club (BAYC) had an even bigger drop of 61%. The monkey-themed NFT collection had a sales volume of only $29.8