NFTs in 2025: Market Crash or Cleansing Fire?
NFTs in 2025: Market Crash or Cleansing Fire?
Greetings Warriors
Let’s talk NFTs—the movement, the meltdown, and the few collections that refused to die.
the NFT market got rocked in Q1 2025. Sales didn’t just drop—they plummeted by 63% compared to the same time last year. From January to March, total volume hit $1.5 billion, down from a fiery $4.1 billion in Q1 2024.
March was brutal. Sales fell 76% compared to last March—$373 million this year vs. $1.6 billion last year.
But even in a burning house, some collections walked out untouched, maybe even stronger. Let’s break it down and see who’s still swinging in the ring.
NFT Market Down 63% – What Went Wrong?
Let’s be real—2025 came for the NFT space with a sledgehammer. From bear market vibes to attention shifting elsewhere in Web3, the hype cooled down fast.
And when hype dies? Only the real remain.
This wasn’t just a dip. It was a cleansing. A test. And the number said it all:
$4.1 billion in Q1 2024 vs. $1.5 billion in Q1 2025.
That’s not a stumble—that’s a drop from the roof.
But don’t count the space out. The builders are still building, and the smart money? They’re watching closely.
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Pudgy Penguins: Cold World, Hot Sales
Amid the fire sale, one collection waddled out with swagger—Pudgy Penguins.
While the rest of the market took L’s, they posted a 13% gain, climbing from $63.5 million to $72 million in Q1 sales.
That’s what I call resilient energy. People laughed when these chubby little penguins hit the scene—but they’re laughing now with the receipts.
There’s something to be said for storytelling, community, and weathering the storm with personality.
Doodles Keep Drawing Wins
Next up—Doodles.
Yeah, the pastel-colored, oddball project that kept the vibes high even when the market dipped low.
Sales jumped from $22.6M in Q1 2024 to $32M in Q1 2025.
That’s not luck—that’s mainstream vision.
They teamed up with McDonald’s, broke into culture, and proved they aren’t just JPEGs. They’re building a brand, and that’s the difference between moment and movement.
Milady Maker: Chaos, Controversy, and the Come-Up
Love it or hate it—Milady Maker is winning.
The anime-inspired Ethereum collection recorded the highest percentage increase of all top collections—a 58% rise in Q1 sales volume.
From cult aesthetics to being shouted out by Ethereum co-founder Vitalik Buterin, to viral buzz and chaotic promotion from Su Zhu (yes, that Su Zhu)—this project is loud, divisive, and very much alive.
In a bear market, sometimes it’s the weirdest survivors that thrive.
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Big Names, Big Losses: BAYC and CryptoPunks Stumble
Now let’s talk about the titans who took some hits.
📉 CryptoPunks dropped 47% YoY in sales—from $114M to $60M.
📉 Bored Ape Yacht Club (BAYC) dropped 61%—from $78M to just $29.8M.
These were the once-untouchables. The golden boys of NFT culture.
But nothing’s promised in Web3. And the hype that got you to the moon can vanish just as fast if you don’t evolve.
This might not be the end, but it’s definitely a wake-up call.
Bitcoin NFTs: High Price, Low Volume
While Ethereum-based NFTs were scrambling, Bitcoin NFTs had their own twist.
📈 Average price went up—from $559.05 in 2024 to $633.24 in 2025.
📉 But total volume? Down 79%. From $1.4 billion in Q1 2024 to just $291 million now.
That’s wild.
Why? Because value rose, but the room got emptier.
According to DappRadar, this signals a shift—Bitcoin NFTs are becoming premium, niche plays, not mass-market noise.
And Bitlayer co-founder Charlie Hu said it best:
"Bitcoin Ordinals? That era is completely gone."
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The Message in the Mess: Hype Is Over, Builders Remain
What does this all mean?
It means the market is growing up.
The days of flipping pixelated avatars for six figures are fading—but the soul of NFTs? Still very much alive.
Projects with story, strategy, and substance are surviving.
The rest? Burned off like fog at sunrise.
This is what a maturing market looks like: rough, unpredictable, but rich with opportunity for those who adapt.
Final Thoughts: The Real Ones Will Emerge
Warriors—this isn’t the end of NFTs. It’s just the next chapter.
We’re watching digital culture evolve, and the ones who stay sharp, stay creative, and stay connected to community?
They’ll rise from the ashes with new fire.
Let the tourists leave. Let the flippers fold.
Because what’s coming next?
It’s for the visionaries. The builders. The warriors.
Keep your eye on the few that stayed true during the drought.
That’s where the next boom will come from.
