After a period of relative inactivity, the non-fungible token (NFT) sector appears to be on the verge of revival. Recent data from CryptoSlam.io indicates that the weekly trading volume has surged to $128 million, with the number of active buyers increasing by over 50%. However, a report from DappRadar, a web3 analytics tool, highlighted a significant downturn in NFT trading, revealing a stark decline in trading volumes during the second quarter of 2025, marking the fifth straight quarter of decreased activity.
Decline in NFT Trading Activity
Trading activity within the NFT space plummeted by 80% year-on-year, totaling $823 million compared to $4 billion in the same quarter of 2024. This downturn represents the lowest performance level for the industry since the NFT boom peaked in 2022, as per DappRadar’s findings. Despite this decline in trading volume, overall NFT sales saw a remarkable increase of 78%, suggesting that while enthusiasm for NFTs persists, their market prices have dropped significantly. The gaming NFT sector led the charge, with the collection Guild of Guardians securing two positions among the top five sellers, outpacing well-established collections like CryptoPunks and Bored Ape Yacht Club. In contrast, profile picture (PFP) NFTs experienced a 72% decrease in trading volume, while Real World Assets (RWAs) gained traction with a 29% increase. Domain NFTs also saw a rise, particularly on the TON blockchain, where Telegram users acquired anonymous number-based domains. Meanwhile, the art category faced a 51% decline in trading volume but enjoyed a staggering 400% increase in total sales, indicating improved accessibility at more affordable price points. Notably, the number of monthly NFT traders grew by 20% to reach 668,598, reflecting renewed interest from users exploring diverse applications beyond conventional collectibles.
Signs of an NFT Resurgence?
A report from insidebitcoins.com noted that the NFT market exhibited signs of recovery during the first week of July, with total trading volume reaching $128.4 million, representing a 1.84% increase from the prior week. Data from CryptoSlam.io showed that the number of NFT buyers surged to over 1.06 million, a 50.56% rise, alongside significant growth in the number of sellers and transactions. As of the latest updates, the global NFT market continues to gain momentum, with sales volume reaching $18.07 million, an increase of 23.66%. The count of NFT buyers increased by 21.71% to 96,382, while sellers rose by 4.90% to 6,830. Additionally, transactions climbed 9.19%, totaling 216,887. From July 3 to July 9, 2025, Ethereum led NFT sales in volume, generating $23.7 million, a 5.39% increase, followed closely by Polygon at $23.6 million, which saw a 12.33% rise and the highest number of buyers at over 110,600—a 35.63% increase. Mythos Chain secured third place with $14.3 million in sales, while Bitcoin continued to show strength with a 41.41% rise to $12.7 million. The BNB Chain recorded $9.3 million in sales, while Immutable, once a strong contender, fell by 35.08% to $5.9 million in the past week.
Expert Insights on NFT Market Dynamics
In response to an inquiry from BitPinas, Jopet Arias, a prominent Filipino NFT artist and co-founder of TLYR Collective, shared his perspective on the recent uptick in NFT sales, attributing it primarily to the gaming sector. “The recent spike in NFT sales appears to be coming mostly from the gaming sector — specifically from collectibles tied to web3 games… After looking into it, some of these games do seem decent. While they’re not AAA-level in terms of polish, there’s something intriguing about them,” Arias stated. He pointed out that many projects show promise, suggesting that teams are actively developing engaging and playable experiences. Arias also highlighted that if current sales figures reflect genuine interest in gaming NFTs, it could mark a positive shift towards innovative formats and economic models in the industry. However, he offered a note of caution, emphasizing that many web3 games are still in early development and may lack the refined gameplay, cohesive narratives, and strong world-building crucial for enduring game franchises. Although the interest is encouraging, Arias admitted he has yet to personally experience these games, as many are still in their formative stages. Looking forward, he expressed a desire to see these projects evolve past speculative excitement and inflated valuations, focusing instead on delivering enjoyable gaming experiences independent of their token associations.
Leading NFT Collections
In the past week, CryptoSlam.io data revealed that NFT trading activity remained concentrated among a select few standout collections, with Courtyard, DMarket, and DNS leading the sales volume rankings. Courtyard topped the list with $17.56 million in sales, despite a slight decline in activity. DMarket followed closely with $9.13 million, boasting the highest number of transactions, indicating strong user engagement. DNS was the most significant gainer, skyrocketing 334% to $4.88 million in sales, although it had relatively few buyers. Conversely, PGNFT and Guild of Guardians Heroes both experienced significant drops in sales and user engagement.
Overview of Top NFT Platforms
Courtyard is an innovative platform utilizing blockchain technology to transform physical collectibles, like trading cards and memorabilia, into NFTs. This allows users to buy, sell, and trade items digitally, with each piece securely stored in a vault and backed 1:1 by a token on the Polygon network, ensuring authenticity and ownership. Collectors have the option to redeem their physical items by burning the NFT or continue trading them online. DMarket operates as an NFT marketplace focused on esports and in-game collectibles, including skins and weapons from popular multiplayer games like CS:GO and Dota 2. It enables users to tokenize and trade virtual items as NFTs, offering features such as instant sales and face-to-face trading without transferring assets off the platform. DMarket has processed over 40 million transactions since inception. DNS NFTs, or NFT domains, represent blockchain-based alternatives to traditional domain names managed by the Domain Name System (DNS). These domains are stored on a blockchain, granting owners complete control and permanent ownership, making them immune to renewal fees and censorship. PGNFT CLUB is a large-scale NFT initiative featuring the Civilization Rabbit (PCCR) series, hosted on the BNB Smart Chain, which showcases over 123,000 NFTs inspired by Chinese culture. Guild of Guardians Heroes NFTs allow players in the mobile RPG Guild of Guardians to own in-game characters, which can be utilized in gameplay, traded, or rented, each possessing unique traits vital for dungeon battles.
Top Collectible Sales Highlights
Last week, the CryptoPunks collection dominated the high-value NFT collectible sales, with all entries in the top 10 coming from this iconic series. Notably, the highest sales were Punk #1831 and Punk #9778, each fetching 150 $ETH. There is a stark contrast in sale prices beyond the top two, as Punk #4868, ranked third, sold for 76.5 $ETH, reflecting nearly a 50% decline in USD value compared to the leading sales. The remaining entries in the top 10 ranged between 48.5 and 70 $ETH, highlighting the significant fluctuations in value within the top-tier NFT market.
This article is published on BitPinas: NFT Trading Hits New Low, But Sales and Users Rise. What else is happening in Crypto Philippines and beyond?
