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The global market for the art of non -fascinable tokens has experienced a swing from top to bottom since its creation in 2020, going from niche enthusiasm to the consumer frenzy before facing a strong brutal decrease. An in -depth analysis revealed that the NFT art market has dropped by more than 90%, its negotiation volume ranging from $ 2.9 billion in 2021 to only $ 23.8 million in T1 2025. In this article, we will discuss what is wrong.
NFT art sales fell in the first quarter, down + 90% since 2021
On March 27, 2025, DAPPRADAR, the digital asset platform providing a complete center to discover, follow and manage decentralized applications, NFT, DEFI projects and other web 3 assets while offering data and information to users and industry partners, sharing a report on the NFT art market. The data analysis report revealed that the volume of negotiation sales for the NFT art market has dropped by more than 90%, from a record summit of 2.9 billion to 23.8 million dollars in T1 2025.
📉 In 2021, Art NFTS reached $ 2.9 billion in volume. This quarter? Only $ 23.8 million.
From the masterpiece of $ 69 million in Beeple to an accident of 93% of the professions-What happened to the Boom of NFT art?
We have dug the data, and it’s more than just a media threshing cycle.
Read complete ventilation 👇– Dappradar (@dappradar) March 28, 2025
The non -bubble chip art market made its debut at the beginning of 2020, with a volume of negotiation reaching $ 28.7 million and more than 101,000 sales in Ethereum. As a pioneering blockchain network in the NFT space, Ethereum has laid the foundations for digital art prosperity. The NFT art market has taken an important step in November 2020, shortly after the launch of art blocks. This collection of art has propelled generative art under the spotlight and attracted artists and collectors, marking a turning point in the landscape of digital art.
At the end of 2021 and early 2022, the NFT art market increased in popularity, quickly becoming one of the most discussed subjects in the NFT industry. During this Bull Run of the NFT Market, the art sector provided unprecedented digital artists with unprecedented creative and financial independence, creating a new digital economy and pushing the global assessments of the NFT market to extraordinary heights. For the first time, the traditional art market has captured traditional attention and interest.
The rapid growth of the NFT art market has coincided with global changes drawn by the COVVI-19 pandemic, which accelerated the adoption of digital platforms and pushed artists to explore innovative methods to engage with their audience. At the end of 2021, Art NFTS won a massive traction, the volume of negotiations skyrocketed + 10,000% in annual sliding to reach $ 2.9 billion. Earlier in 2022, the NFT art market saw NFT sell for enticing sums.
The most expensive and emblematic NFTS sold during the historic marker race of NFT Historic NFT 2021-2022 included “Everydays: The First 5000 Days” by Beeple, which sold for 69.3 million dollars, “Human One” by Beeple, sold for $ 28.9 million, “Crossroad” $ 4.6 million, “109 million dollars” by Belele. Dmitri Cherniak which sold $ 6.93 million.
From mid-2022, the Art NFT market has lost its initial momentum, the volume of negotiations down 19% in annual shift to 2.38 billion dollars despite a 31% increase in the number of sales to 1.91 million. This divergence between the commercial volume and the number of sales indicated a significant decrease in the average prices of the NFT floor while the media threw began to fade. The slowdown continued in 2023 and 2024, the volume of artistic negotiation falling by 93% of its summit of all time at only $ 197 million.
Three years later, media threshing around NFTS art has plunged considerably. In T1 2025, the negotiation volume for Art NFTS dropped to only $ 23.8 million. Even if the year is not over, this figure indicates that the NFT art still finds it difficult to resume relevance. The radical decline for the art nft of the golden era of 2021-2022 reflects the enthusiasm and the decrease in the interests of investments. The dive also suggests that the feeling of the market can change, leaving any landscape in a state of uncertainty.
What’s wrong?
Based on the conclusions of Dappradar, the NFT art market experienced high demand and fewer sellers in 2022, creating intense competition which has increased the floor prices and the volume of sales. In 2022, the ratio became more balanced, with an increase in the negotiation and reversal activity as speculation has developed. In 2023, buyers and sellers balanced, reporting a more mature and less speculative market.
Unfortunately, a sharp drop in buyers alongside the number of regular sellers last year highlighted the decrease in demand and an increase in efforts to liquidate the assets. Over the past three months, the market has experienced a prudent but stable environment, with a small but coherent community of dedicated collectors remaining active. As the NFT industry is evolving, NFT Art are ready to prosper as a refined and resilient segment of the wider NFT ecosystem.
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