Hype fades as NFT platforms lose users
The post Hype fades as NFT platforms lose users appeared on BitcoinEthereumNews.com. The NFT market has reached its lowest point in a year and a half, suggesting a long winter in digital collectibles ahead. Their sales volume fell to $823 million in the second quarter of 2025, down from $4 billion over the same period in 2024, according to a new report by DappRadar. That’s a 19% drop from the first quarter of this year and the fifth consecutive quarterly decline. This ongoing bust paints a bleak picture for digital collectible investors and creators. So far, 2025 is the worst year in NFT history, with no real recovery prospects. Nearly every part of the industry is reeling from the steep drop, from well-established collections such as Bored Ape Yacht Club to newer and smaller projects vying to prove their worth and utility. There are several reasons behind the decline, experts say. Interest has waned among the retail traders who, in recent months, flocked to digital collectibles in search of a quick buck. High gas fees on Ethereum, dwindling media buzz, and increasing skepticism about the long-term value of NFTs haven’t helped, either. In other words, fewer people buy, sell, or talk about digital collectibles. Hype fades as NFT platforms lose users NFTs came crashing into the mainstream in 2021 and 2022. They made millionaires overnight from artists and spawned a new generation of digital collectors. Landmark sales, most notably the Beeple auction at Christie’s, which took in $69 million, made headlines around the globe. In this golden age, trading volume in digital collectibles soared past $50 billion a year, and some crude cartoon images changed hands for more than $500,000 apiece. But the gold rush didn’t go on forever. But just as rapidly as NFTs ascended, they began to tumble. Prices began to tumble in mid-2022, erasing billions in value. Collections that once…
The post Hype fades as NFT platforms lose users appeared on BitcoinEthereumNews.com.
The NFT market has reached its lowest point in a year and a half, suggesting a long winter in digital collectibles ahead. Their sales volume fell to $823 million in the second quarter of 2025, down from $4 billion over the same period in 2024, according to a new report by DappRadar. That’s a 19% drop from the first quarter of this year and the fifth consecutive quarterly decline. This ongoing bust paints a bleak picture for digital collectible investors and creators. So far, 2025 is the worst year in NFT history, with no real recovery prospects. Nearly every part of the industry is reeling from the steep drop, from well-established collections such as Bored Ape Yacht Club to newer and smaller projects vying to prove their worth and utility. There are several reasons behind the decline, experts say. Interest has waned among the retail traders who, in recent months, flocked to digital collectibles in search of a quick buck. High gas fees on Ethereum, dwindling media buzz, and increasing skepticism about the long-term value of NFTs haven’t helped, either. In other words, fewer people buy, sell, or talk about digital collectibles. Hype fades as NFT platforms lose users NFTs came crashing into the mainstream in 2021 and 2022. They made millionaires overnight from artists and spawned a new generation of digital collectors. Landmark sales, most notably the Beeple auction at Christie’s, which took in $69 million, made headlines around the globe. In this golden age, trading volume in digital collectibles soared past $50 billion a year, and some crude cartoon images changed hands for more than $500,000 apiece. But the gold rush didn’t go on forever. But just as rapidly as NFTs ascended, they began to tumble. Prices began to tumble in mid-2022, erasing billions in value. Collections that once…
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