Non-fungible tokens (NFTs) have reached their lowest monthly sales figures of the year, with a dramatic 66% drop in market capitalization from January’s peak. Sales fell to $320 million in November, a stark contrast to the $629 million seen in October, marking a steep decline in the sector’s momentum.
Key Insights:
- November’s NFT sales plummeted to $320 million, nearly halving from October’s $629 million.
- Early December has started weakly, with a mere $62 million in NFT sales during the first week, signaling that the downturn may continue through the month.
- The broader NFT market has experienced a 66% drop in its market cap, falling from $9.2 billion in January to just $3.1 billion by December.
NFT Sales Plunge to New Lows
NFT sales hit a low of $320 million in November, the worst monthly performance of the year, according to data from CryptoSlam. This represents a significant decline from the previous month’s $629 million and pulls the market back to levels not seen since September 2024, when sales fell to $312 million.
The start of December has shown little improvement, with NFT sales totaling just $62 million from December 1 to 7, marking the weakest weekly performance of 2025. This continued slump suggests that the downward trend could persist, further dampening market sentiment as the year concludes.
NFT Market Cap Falls by 66%
CoinGecko’s data highlights the severe decline in the overall NFT market capitalization, now sitting at $3.1 billion, a steep drop from the $9.2 billion high in January. The market’s current valuation represents a 66% decrease, signaling a broader downturn in the digital collectible space.
Top NFT Collections Reflect Market Weakness
The downturn is evident across the leading NFT collections, with many of the blue-chip assets experiencing significant losses. CryptoPunks, the largest collection by market cap, fell by 12% over the last 30 days. Other top assets, including Bored Ape Yacht Club (-8.5%), Pudgy Penguins (-10.6%), Chromie Squiggle (-5.6%), Fidenza (-14.6%), and Moonbirds (-17.9%), all posted considerable declines.
The most significant drop came from Hypurr, which saw a staggering 48% loss, making it the worst performer among the top 10 NFT collections.
Infinex Patrons and Autoglyphs Defy the Trend
Despite the widespread downturn, two collections managed to buck the trend. Infinex Patrons, the second-largest NFT collection by market cap, saw a notable 14.9% increase in value. Similarly, Autoglyphs outperformed the broader market with a 20.9% gain in the last 30 days, showing that there is still some appetite for digital collectibles within specific segments.
NFT Winter Deepens as 2025 Ends
This latest decline comes after a tumultuous quarter for the NFT market. In October, NFT valuations dropped sharply, with market cap falling from $6.6 billion to $3.5 billion, representing a 46% decrease in just 30 days.
A brief recovery occurred in mid-November, with the market cap rebounding to $3.9 billion, spurred by a rally in memecoins. However, the recovery was short-lived, and the market cap has since dropped again to $3.1 billion, reflecting the continued bearish sentiment.
Conclusion
As the NFT market enters the final stretch of 2025, the deepening winter is hard to ignore. November’s poor performance and early December’s weak start suggest that the market is in for a challenging period. While certain collections like Infinex Patrons and Autoglyphs are managing to hold their ground, the broader sector remains in a significant downturn, raising questions about the future trajectory of NFTs in the near term.
