- The NFT monthly sales volume has increased for the first time this year
- The volume registered a 27% rise in May compared to April
- The volume, however, is still low compared to the start of the year
The monthly NFT sales volume increased for the first time this year last month, although the overall volume was still lower than January 2025 figures.. The volume rose by 27% to $476 million compared to April’s $373 million. Although May’s volume was lower than January’s $679 million and February’s $478 million, it breaks the cycle of a downward trend, which may be a sign that the NFT market is recovering from the prolonged bear market.
February’s Volume Declined by $201 Million
According to NFT data aggregator platform CryptoSlam, February recorded the highest decline compared to January, shedding close to $201 million. March’s volume was also 10% lower than February’s, while April’s volume was 13% lower than March’s volume.
Unique NFT buyers also registered an uptick, moving from 622,00 in April to slightly above 1 million in May, the largest buyer count since May 2024. The number of unique sellers, however, has been reducing since the start of the year. Unique sellers reduced from 356,919 in April to 320,828, the lowest since March 2021.
NFT transactions also rose, hitting 6.2 million in May, which was a 26% increase compared to April’s 4.9 million. The average NFT sale also slightly rose from $74.74 in April to $76.38 in May.Â
Experts Suggest NFT Market Revival Options
The uptick in monthly sales volume comes as industry experts suggest ways to revitalize the NFT market. Blockchain analytics platform DappRadar, for example, recently said that real-world asset NFTs can revive the NFT lending market.
It also comes at a time when NFT projects like Doodles are launching tokens as a way to boost engagement and navigate the bear market. The bear market has also led to some NFT-focused projects either shutting down or pivoting to AI. Recent projects to take this route include NFT-linked fashion label 9dcc, which has announced closure, and NFT marketplace X2Y2, which disclosed that it’s abandoning NFTs to explore AI.
With the monthly NFT sales volume increasing in May, it’s to be seen whether NFTs will maintain this trajectory in June.
