The DappRadar report for the month of February 2025 recorded a 50% drop in the NFT market, mainly due to the general decline in crypto prices. Overall, it seems that the entire Web3 sector has registered a bear trend.
NFT Market and the 50% Drop in February 2025: DappRadar Report
DappRadar has published its “Industry Report” for the month of February 2025, revealing that the NFT market has collapsed by 50% compared to January.
“The trading volume of NFTs has plummeted by 50% to 498 million dollars, mirroring the broader decline in cryptocurrencies, while AI-driven and sports NFT collections have gained momentum.”
In practice, DappRadar attributes the decline of the NFT market to the general collapse of crypto prices, given that instead collections for AI and sports are recording good gains.
In addition to the trading volume, the total sales of NFTs also decreased in February, even though by -16% compared to the previous month.
According to DappRadar, the correlation between cryptocurrency prices and NFT valuations remains strong, with market sentiment driving fluctuations in trading activity.
NFT Market and the February 2025 Decline: the Countertrend Collections
Despite the overall market downturn, DappRadar identified the NFT collections that remained most active in the second month of the year.
At the forefront is the NFT collection of Pudgy Penguins which, despite having seen its trading volume decrease, has recorded a 25% increase in sales. In practice, the collection has seen strong trading activity at the lower price points.
The Doodles collection, on the other hand, experienced a surge in volumes in February. The main reason was the announcement of its new Solana-based token DOOD which generated excitement in the crypto-community.
Even the AI-driven NFT collection by Kaito Genesis, launched just last December 2024, experienced a surge in February, with the floor price reaching its all-time high of 7.65 ETH. The collection consists of 1500 Ethereum-based NFTs, and the project has formed several strategic partnerships, such as the one with the Azuki NFT team.
In terms of number of traders, the NFT collection Dobby Fingerprints has attracted the most. The holders of these NFTs can request the fingerprint keys within Dobby, the world’s first loyal artificial intelligence model. These fingerprints allow for secure verification of ownership, presenting a new frontier in blockchain-based identity and asset management.
As anticipated, even sports sector NFTs performed well, despite the general decline in February 2024. Standing out is the leader Sorare which, however, also faced a new competitor, CricSage.
The record sale of the month
Also in the month of February, the NFT market witnessed a record sale after years of stagnation.
In fact, it is precisely since 2022 that a digital artwork was acquired for 3 million dollars. This transaction raises questions about the ongoing uncertainty regarding the longevity of the NFT market.
In any case, the buyer, a well-known NFT collector, would have invested in a work belonging to a prestigious collection.
