NFT Sales Q1 2025 – Market Collapse Met by Surging Collections

NFT Sales Q1 2025 have shown a steep decline, with total sales plunging 63% compared to the first quarter of 2024. Despite the overall downturn, standout collections like Pudgy Penguins, Doodles, and Milady Maker defied expectations and posted impressive gains, showing there’s still energy in the non-fungible token market.

NFT Sales Q1 Market Overview

According to data from CryptoSlam, NFT sales in Q1 2025 amounted to $1.5 billion, a sharp drop from $4.1 billion during the same period in 2024. March marked the steepest decline, with sales down 76% year-over-year, from $1.6 billion to just $373 million.

This overall market contraction may be attributed to lower investor enthusiasm, macroeconomic uncertainties, and the normalization of hype following the NFT boom of recent years. However, analysts suggest that this reset could pave the way for more sustainable growth in the future.

Despite this challenging environment, some collections like Pudgy Penguins, Doodles, and Milady Maker demonstrated resilience and continued to draw investor attention.

Top NFT Performers in Q1 2025 | Doodles NFT | Milady Maker

Leading the charge in Q1 2025 NFT sales was Pudgy Penguins, with a total volume of $72 million, up 13% from $63.5 million in Q1 2024. This growth highlights the collection’s increasing popularity and effective branding. The team behind Pudgy Penguins has focused on storytelling and IP expansion, which seems to resonate with both crypto-native and mainstream audiences.

Another notable performer, Doodles, saw its Q1 2025 sales jump to $32 million from $22.6 million a year earlier. The boost may be attributed to its expanding mainstream recognition and a recent partnership with McDonald’s, bringing NFT experiences to a broader customer base.

Milady Maker, the anime-inspired Ethereum-based collection, experienced the largest percentage increase among top collections — a 58% rise. Its social media presence and an endorsement from Vitalik Buterin helped fuel this growth. With 10,000 anime-themed avatars, the collection has attracted significant buzz, particularly among younger crypto audiences.

Struggles Among Established NFT Collections | NFT Market Trends 2025

Established NFT giants struggled in Q1 2025. CryptoPunks dropped 47%, from $114 million to $60 million in sales. Despite being a cultural staple of the NFT world, the collection faced cooling interest amid rising competition.

Bored Ape Yacht Club (BAYC) saw a 61% drop in Q1 sales, declining from $78 million to just $29.8 million. Many analysts point to a saturation in profile picture (PFP) projects and increased scrutiny over utility and long-term value as key reasons for this decline.

Bitcoin NFTs Show Price Strength but Volume Weakness

Bitcoin-based NFTs presented mixed results. While average prices rose significantly, total sales volume plummeted. The average Bitcoin NFT price hit $633.24 in Q1 2025 — up from $559.05 in 2024 and $63.45 in 2023, according to DappRadar.

However, overall Bitcoin NFT sales volume dropped 79% from $1.4 billion to $291 million, suggesting reduced market activity despite rising prices. This contrast indicates that while some high-value sales occurred, overall transaction frequency decreased. Bitlayer’s co-founder Charlie Hu commented in an earlier interview that Bitcoin Ordinals were “one of the most overhyped narratives,” and this recent performance may reflect market correction.

 

What’s Ahead for NFTs in 2025? Pudgy Penguins NFT | Doodles NFT

The NFT market appears to be undergoing a transition. Collections that focus on brand identity, real-world utility, and cross-platform engagement are continuing to thrive, while speculative and hype-driven projects are losing steam. Projects integrating with mainstream brands or offering gamified experiences seem to have a competitive edge.

More developers are also experimenting with Layer-2 solutions and dynamic NFTs that adapt over time, pointing toward the next generation of utility-driven assets in the Web3 ecosystem.

Conclusion:

While NFT sales in Q1 2025 declined drastically by 63%, the market showed signs of evolution. Collections like Pudgy Penguins, Doodles, and Milady Maker not only survived but grew amidst the downturn. As the NFT landscape continues to shift, innovation, branding, and community engagement remain the keys to success.

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