NFT sales plunge 63% in Q1, but Pudgy Penguins, Doodles buck trend
Sales of non-fungible tokens (NFTs) dropped sharply in the primary quarter of 2025, plunging 63% year-over-year. Still, a couple of standout collections defied the downturn and posted good points.
NFTs recorded $1.5 billion in whole sales from January to March 2025, down from $4.1 billion throughout the identical interval in 2024, in accordance with information from aggregator CryptoSlam. March accounted for the steepest decline, with sales falling 76% to $373 million in contrast with $1.6 billion final yr.
Despite the slowdown, collections together with Doodles, Milady Maker and Pudgy Penguins outperformed expectations, displaying energy amid the downturn.
Pudgy Penguins, Doodles, Milady defy NFT downturn in Q1
Among the most important NFT collections, CryptoPunks recorded $60 million in Q1 2025 sales, down 47% from $114 million in the primary quarter of 2024.
The Bored Ape Yacht Club (BAYC) had a good greater drop of 61%. The monkey-themed NFT assortment had a sales quantity of solely $29.8 million in Q1 2025, down from $78 million in Q1 2024.
Among the favored collections reviewed by Cointelegraph, Pudgy Penguins recorded the very best sales quantity in Q1 2025. The assortment recorded $72 million for the quarter, a 13% improve on its $63.5 million in Q1 2024.
Doodles additionally defied the broader market downturn, with sales leaping to $32 million in Q1 2025 from $22.6 million in Q1 2024, presumably pushed by its rising mainstream presence and a current partnership with McDonald’s.
Meanwhile, Milady Maker recorded the very best share improve amongst prime collections. The Ethereum-based NFT assortment had a sales quantity improve of 58%. The anime-themed mission, endorsed by Ethereum co-founder Vitalik Buterin, has continued to achieve consideration throughout social media platforms.
The assortment contains 10,000 anime-inspired avatars and it has gained traction from promotion by controversial Three Arrows Capital co-founder Su Zhu.
Related: Sony’s Soneium blockchain, Animoca Brands deliver anime to Web3
Bitcoin NFTs common worth elevated in Q1 2025
While the general NFT market declined, NFTs constructed on Bitcoin noticed an increase in common worth, whilst whole sales quantity shrank considerably.
In the primary quarter of 2025, NFTs on Bitcoin noticed their common worth improve to $633.24. According to information aggregator DappRadar, the typical worth of Bitcoin NFTs climbed from $63.45 in 2023 to $559.05 in 2024 earlier than reaching its present common.
However, Bitcoin-based NFT sales declined sharply to $291 million in 2025, a 79% drop. In the primary quarter of 2024, Bitcoin NFTs had a sales quantity of $1.4 billion.
In a earlier interview with Cointelegraph, Bitlayer co-founder Charlie Hu mentioned that Bitcoin Ordinals are one of the vital overhyped narratives in the Bitcoin ecosystem. The govt informed Cointelegraph that whereas the asset class went to the moon, that period is “completely gone.”
Magazine: Trump-Biden wager led to obsession with ‘idiotic’ NFTs —Batsoupyum, NFT Collector
