The NFT market experienced a significant slowdown in 2025, characterized by a sharp decline in total sales volume and a substantial decrease in overall market capitalization. The market value fell by approximately 74%, from a high of $9.2 billion in January 2025 to just $2.4 billion in December 2025. This underperformance has sparked a heated debate within the crypto community over whether NFTs will make a comeback in 2026.
The NFT market forecast
The non-fungible token market is currently experiencing significant volatility, which continues to keep global sales volume below $11 million. The NFT market began to show cracks in 2025. The significant slowdown in the NFT market in 2025 was a continuation of a bear market that began in 2022, with an accelerated decline in value starting in January 2025 and worsening at the end of the year.
Fortunately, the NFT market is showing slight signs of recovery in early 2026 after a prolonged downturn, but this upward movement appears to be driven by existing capital rather than new investments. This indicator prompted the market to predict that a new bull run would reach an all-time high. Polymarket, a prediction market that allows users to win or lose on the outcome of world events, has set the odds for the NFT’s return in 2026 at 65%.
JUSTIN: Chances of NFTs making a comeback in 2026 hit an all-time high of 65% pic.twitter.com/SzWiRH4ZaQ
– Luidji (@imluidji) January 13, 2026
Although market sentiment may change quickly, some NFT experts predict that the broader NFT market recovery will continue through 2026. Nonetheless, the global NFT market is in a phase of structural changes and is not guaranteed to return to the speculative highs of 2021. The global NFT market size, estimated at $61.01 billion in 2025, is expected to reach $86 billion by 2026, with an annual growth rate (CAGR) of 41.8% until 2035.
NFTs will have the best returns and will be the most hated trade in this bull run. Just like last time.$ETH is going to hit 10k+ and when that happens, NFTs move violently, not rationally. ATHs will print while people are still tweeting “I don’t see the value in this.”
This race will be…
– Hemdawg (@Hemdawg_) January 14, 2026
NFT Use Cases in the Next Bull Run
The next NFT bull run will likely be fueled by a shift from speculation-driven market hype to projects focused on utilities, institutional adoption, and advancements in integration with gaming and the metaverse. Tokenization of physical objects, such as real estate, luxury goods and collectibles, will provide tangible value support and reduce risk. NFTs will also serve as verifiable event tickets, reducing fraud and providing additional benefits such as exclusive access or digital souvenirs.
NFTs are essential to play-to-earn economies and metaverse platforms, enabling ownership of in-game items, avatars, and virtual lands. Companies will begin using NFT collections for loyalty programs and community building, providing holders with unique rewards, discounts, and exclusive experiences. NFTs can represent patents, academic degrees, and digital identities on-chain, improving transparency and security across various industries. These NFT use cases will fuel the next bull run.
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