Non-fungible tokens (NFTs) have experienced their lowest monthly sales volume of the year, with digital collectibles seeing a decline of over 66% in market capitalization from their January highs.
Data from CryptoSlam indicates that NFT sales dropped to $320 million in November, a significant decrease from the $629 million recorded in October. This decline brings monthly volumes back to levels not seen since September 2024, when digital collectible sales reached $312 million.
The data further reveals that between December 1 and 7, NFTs generated only $62 million in sales, marking the weakest weekly total for 2025. This slow start to December suggests that the downturn may continue throughout the month as NFT momentum continues to wane.
This downward trend is occurring alongside a broader decline in NFT valuations. According to CoinGecko, the sector's overall market cap currently stands at $3.1 billion, which is a 66% decrease from its peak of $9.2 billion in January.
Blue Chip Collections Slide, But Infinex Patrons and Autoglyphs Show Resilience
CoinGecko data shows that most of the top NFT collections have mirrored the broader market's decline. CryptoPunks, which holds the largest market capitalization, has fallen by 12% in the last 30 days.
Bored Ape Yacht Club has seen an 8.5% decrease, while Pudgy Penguins have dropped 10.6% over the same period, continuing a pullback across the most dominant NFT assets.
Art-driven blue-chip collections have also been affected. Chromie Squiggle has slid 5.6%, Fidenza has fallen 14.6%, Moonbirds have dropped 17.9%, and Mutant Ape Yacht Club is down 13.4% in the last month.
The most significant decline among the top 10 NFT collections was observed in Hypurr, which shed 48% of its value.
In contrast, two prominent collections have posted gains in the last 30 days, bucking the overall downward trend. Infinex Patrons, currently the second-largest NFT collection by market cap, has seen gains of 14.9%. Autoglyphs have outperformed the entire top 10 leaderboard with a 20.9% surge in the last 30 days.
NFT Winter Deepens as 2025 Concludes
The latest decline occurs during a turbulent quarter for the NFT market. As previously reported, NFTs experienced a sharp drop in valuation between October and November.
Digital collections saw their market cap decrease from $6.6 billion to $3.5 billion, even as sales slightly increased. This represented a 46% drop in just 30 days.
This weakness was followed by a temporary rebound. On November 11, the NFT market cap briefly recovered from $3.5 billion to $3.9 billion, indicating renewed investor interest alongside a rally in memecoins.
However, this recovery proved to be short-lived. CoinGecko data indicates that the NFT market cap is now at $3.1 billion, marking a 53% decrease from its level in October.