Source: Cointelegraph Original: "{title}"
In the first quarter of 2025, the sales volume of non-fungible tokens (NFTs) saw a significant decline, plummeting 63% year-on-year. Nevertheless, several prominent token series defied the downturn and achieved growth.
According to data from the aggregation site CryptoSlam, the total sales of NFTs from January to March 2025 amounted to $1.5 billion, down from $4.1 billion during the same period in 2024. March experienced the largest drop, with sales falling 76% from last year's $1.6 billion to $373 million.
Despite the slowdown in growth, series such as Doodles, Milady Maker, and Pudgy Penguins outperformed expectations, demonstrating strong growth momentum amid economic decline.
Among the largest NFT collections, CryptoPunks recorded sales of $60 million in the first quarter of 2025, a 47% decrease from $114 million in the first quarter of 2024.
The decline for the Bored Ape Yacht Club (BAYC) was even steeper, reaching 61%. The monkey-themed NFT series had sales of only $29.8 million in the first quarter of 2025, down from $78 million in the first quarter of 2024.
In the popular collections reviewed by Cointelegraph, Pudgy Penguins had the highest sales volume in the first quarter of 2025. The series achieved sales of $72 million this quarter, a 13% increase from $63.5 million in the first quarter of 2024.
Doodles also resisted the broader market decline, with sales jumping from $22.6 million in the first quarter of 2024 to $32 million in the first quarter of 2025, likely due to its expanding influence in the mainstream market and a recent collaboration with McDonald's.
Meanwhile, Milady Maker recorded the highest percentage growth among top collectibles. This Ethereum-based NFT series saw a 58% increase in sales. The anime-themed project, supported by Ethereum co-founder Vitalik Buterin, continues to gain attention on social media platforms.
The series includes 10,000 anime avatars, and the promotion by the controversial co-founder of Three Arrows Capital, Su Zhu, has added to the project's appeal.
Related Content: Sony's Soneium Blockchain, Animoca Brands Brings Anime to Web3
While the entire NFT market is experiencing a downturn, the average price of Bitcoin-based NFTs is on the rise, despite a significant shrinkage in total sales volume.
According to data aggregator DappRadar, the average price of Bitcoin NFTs climbed from $63.45 in 2023 to $559.05 in 2024, reaching the current average price.
However, sales of Bitcoin-based NFTs plummeted sharply to $291 million in 2025, a decline of up to 79%. In the first quarter of 2024, sales of Bitcoin NFTs were $1.4 billion.
Charlie Hu, co-founder of Bitlayer, previously told Cointelegraph in an interview that Bitcoin's fiat currency status is one of the most exaggerated claims in the Bitcoin ecosystem. The executive informed Cointelegraph that while the asset class has "moonshot," that era "is long gone."
Magazine: Trump's and Biden's Bets Lead to Obsession with "Idiot" NFTs - Batsoupyum, NFT Collector
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