Non-Fungible Token Sales Reach $2.8 Billion in the First Half of 2025, with Declining Trading Volume but Increasing Transaction Numbers, Signaling Market Maturity.
The global Non-Fungible Token market reached sales of $2.82 billion in the first half of 2025, showing relative stability compared to the second half of 2024. However, behind this figure are notable market structure developments: the average transaction value per Non-Fungible Token decreased, but the number of participants increased significantly, signaling an important shift from a high-speculation playground to an ecosystem focused on application and user expansion.
Data from CryptoSlam shows the first quarter recorded positive sales of $1.59 billion, before the market showed signs of cooling in the second quarter. Meanwhile, DappRadar's report indicates a clear divergence: although total trading volume (in USD) decreased by 45% in the second quarter, the number of transactions increased sharply by 78%, reaching 12.5 million individual transactions.
This trend clearly shows the average value of each Non-Fungible Token is declining, but the number of market participants is expanding rapidly. Rather than a negative sign, this can be seen as a necessary market repositioning.
According to Aubrey Terrazas, Vice President of Marketing at the Non-Fungible Token platform Rarible, the decline in average transaction value is a sign that the market is becoming healthier and more sustainable. "We are gradually moving beyond pure speculation to enter an era of projects with more practical applications and higher community involvement," Ms. Terrazas noted.
The decrease in average value along with the explosion of transaction numbers is the clearest evidence of this argument. It shows that the Non-Fungible Token market is expanding accessibility, and users no longer need to spend extremely large amounts to own digital assets.
However, the appeal of the high-end segment has not completely disappeared. Prominent events can still create large waves of attraction. A prime example is rapper Snoop Dogg recently selling nearly a million Non-Fungible Tokens on the Telegram platform in just 30 minutes, generating $12 million.
