NFT Art sales drop from $ 2.9 billion in 2021 to $ 24 million in the first quarter – report

The non -explosive symbolic arts market has witnessed an upward swing and decline since its establishment in 2020, as it develops from specialized enthusiasm to prevailing frenzy before facing a sharp decline. An in -depth analysis revealed that the NFT Art Market has decreased by more than 90 %, with a decrease in trading volume from $ 2.9 billion in 2021 to only 23.8 million dollars in the first quarter of 2025. In this article, we will discuss the error that occurred.

NFT Art sales decrease in the first quarter, a decrease +90 % since 2021

On March 27, 2025, DAPPRADARThe digital assets platform that provides a comprehensive center for discovering, tracking and managing decentralized applications, NFTS, Defi projects, and other Web3 assets with data and visions to users and industry partners, shared a report on the NFT Art Market market. The data analysis report found that the volume of trading in the NFT art market had decreased by more than 90 %, as it decreased from a record level ranging between $ 2.9 billion and $ 23.8 million in the first quarter of 2025.

📉 In 2021, ART NFTS amounted to $ 2.9 billion in size. This quarter? Only 23.8 million dollars.

From a $ 69 million beeple masterpiece to 93 % crashes in trading – what happened happened

We have dug in the data, which is more than just the noise cycle.
Read the complete collapse 👇https://t.co/wgo83LTQM9

DAPPRADAR (DAPPRADAR) March 28, 2025

The non -explosive symbolic arts market appeared for the first time in early 2020, with a trading volume of 28.7 million dollars and more than 101,000 sales on Ethereum. Since the leading Blockchain network in the NFT space, ETHEREUM laid the basis for digital art to flourish. The NFT Art Market reached a huge milestone in November 2020, shortly after the launch of the art blocks. This artistic collection pushed the obstetric art to the spotlight and attracted artists and plural, which represents a turning point in the scene of digital art.

In late 2021 and early 2022, the NFT Arts Market increased in popularity, rapidly one of the most discussed topics in the NFT industry. During this running in the NFT Market market, the art sector has introduced digital artists, the unprecedented creative and financial independence, creating a new digital economy and pushing the global NFT market reviews to unusual heights. For the first time, the traditional art market captured the prevailing attention and attention.

The rapid growth of the NFT Market of Art coincided with the global transformations led by the Covid-19s, which accelerated the adoption of digital platforms and prompted NFT artists to explore innovative methods to participate with their fans. In late 2021, ART NFTS gained a tremendous traction, with trading volume increased by +10,000 % on an annual basis to reach $ 2.9 billion. Earlier in 2022, the NFT Art Market witnessed some NFTS sale for the dollars in the eye.

NFTS included the most expensive and iconic that was sold during the historic 2021-2022 NFT MARKER Run “every day”: the first 5000 days “by Beeple, which sold for $ 69.3 million,” Human One “by Beeple, was sold for $ 28.9 million, and” right-click “Dmitry Chernak who sold for 6.93 One million dollars.

From mid -2012, the ART NFT market lost its initial momentum, as the trading volume decreased by 19 % on an annual basis to $ 2.38 billion despite the increase in sales by 31 % to 1.91 million. This difference between the trading volume and the number of sales indicated a significant decrease in the average NFT ground prices, as the noise began to fade. The recession continued in 2023 and 2024, with technical trading volume decreased by 93 % of its highest level ever to only 197 million dollars.

Three years later, the noise around the Art Nfts decreased significantly. In Q12025, the trading volume of ART NFTS fell to only $ 23.8 million. Although the year is not over, this number indicates that NFTS Art is still struggling to restore importance. The sharp decline of NFTS from the Golden Age of 2021-2022 reflects the delusional enthusiasm and the decrease in investment interests. Dignation also indicates that market morale can change, leaving any scene in uncertainty.

What is wrong?

Based on the results of DAPPRADAR, the NFT Art Market witnessed a large demand and a lower number of sellers in 2022, creating intense competition that led to high sales prices. In 2022, the percentage became more balanced, while increasing trading and stirring activity with the growth of speculation. In 2023, buyers and sellers balance, indicating a more mature and less speculative market.

Unfortunately, a sharp decrease in buyers was highlighted along with the numbers of fixed sellers last year, the enlarged demand and increase efforts to liquidate assets. In the past three months, the market has seen a cautious but stable environment, with a small but consistent community of congregation enthusiasts who are still active. With the development of the NFT industry, NFTS Art is preparing to flourish as a comfortable and flexible part of the broader NFT ecosystem.

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