NFT sales experienced a dramatic drop of 63% in the first quarter of 2025, falling from $4.1 billion to $1.5 billion year-over-year. March saw the steepest decline, plummeting 76% compared to the previous year.

However, some collections like Pudgy Penguins, Doodles, and Milady Maker defied the trend and reported gains. Notably, Pudgy Penguins reached a sales volume of $72 million, marking a 13% increase.

While Bitcoin NFTs have seen a rise in their average price, their total sales declined significantly to $291 million, an overall drop of 79% from $1.4 billion in 2024.