NFT Art sales fall from $ 2.9 billion to 24 million dollars in 2021 – Report

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NFT Art sales fall from $ 2.9 billion to 24 million dollars in 2021 – Report

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The Global Fungible Token Art Market has been living up and down since its establishment in its 2020, and before it encounters a brutal decline, the mainstream of niche is turning from enthusiasm to the mainstream madness. An in -depth analysis revealed that the NFT art market fell over 90%and the volume of transaction fell from $ 2.9 billion in 2021 to $ 23.8 million. In this article we will discuss what is going wrong.

NFT Art Sales decreased by +90% since 2021

On March 27, 2025, DEPAPRADARWhile providing data and information to users and industry partners, the digital asset platform, which provides a comprehensive center for decentralized applications, NFTS, defi projects and other web3 assets, shared a report on the NFT Art Market. The data analysis report found that the transaction sales volume for the NFT art market has fallen by more than 90%and that it fell from $ 2.9 billion to $ 23.8 million in the first quarter of 2025.

📉 In 2021, Art NFTS volume was hit 2.9 billion dollars. Is this quarter? Only $ 23.8 million.

What happened to NFT Art Boom from Bipo’s 69 million dollar masterpiece to 93% of tradesmen?

We entered the data and this is just more than a swallow cycle.
Full Fault 👇 👇https://t.co/wgo83ltqm9

– Daphradar (@dappradar) March 28, 2025

Token art market, which was not released in the beginning of 2020, which reached more than 101,000 sales in the trade volume of trade and more than 101,000 in Ethereum, was released. Ethereum as the pioneering blockchain network in the NFT field formed the basis for the development of digital art. The NFT Art Market reached a large milestone in November 2020 shortly after the introduction of art blocks. This collection of art brought up productive art and attracted artists and collectors and pointed to a turning point in the digital art view.

NFT Art Volume from 2020

At the end of 2021 and early 2022, the NFT Art Market became popular and quickly became one of the most debated issues in the NFT industry. During this NFT market Bull Run, the art sector provided unprecedented creative and financial independence to digital artists, created a new digital economy and pushed global NFT market values to extraordinary heights. For the first time, the traditional art market attracted attention and attention.

The rapid growth of the NFT art market coincided with global changes directed by the COVİD-19 PANDEM, which accelerated the adoption of digital platforms and pushed NFT artists to explore the innovative methods of interacting with their masses. At the end of 2021, Art NFTS gained great traction and the volume of transactions increased from year to year by 10,000%. At the beginning of 2022, the NFT Art Market saw sales of some NFTs for eye irrigation sum.

The Most Expensive and İconic NFTS SOLD DURING THE 2021-2022 HISTORIC NFT MARKER BULL RUN INCLUDED “EVERYDAYS: The First 5000 Days” by Beeple, Who Sold for $ 69.3 Millon, “Human One” by Beeple, Sold for $ 28.9 Guy ”by Xcopy That Sold for $ 7.09 Million,“ Crossroad ”by beeple that Sold for $ 6.6 Million, and Ringers #109” by 6.93 million dollars Dmitri Cherniak.

As of mid -2012, the Art NFT market has lost its first momentum and the transaction volume decreased by 19% annually to $ 2.38 billion. This separation between trade volume and number of sales showed a significant decrease in average NFT base prices when Hype began to fade. The decline continued in 2023 and 2024, and the art trade volume fell from the highest level of all time to only 197 million dollars.

Three years later, Hype around Art NFTs fell significantly. In 1,2025, the transaction volume for Art NFTS further further further further further $ 23.8 million. Although the year is not over, this figure shows that Art NFTs are still struggling to regain the relevance level. Since the 2021-2022 gold period, the harsh decline for art NFTs reflects the decreasing enthusiasm and decreasing investment interest. Dalma also argues that market sensitivity may change and can leave any landscape uncertainty.

What’s wrong?

Based on the findings of Dippradar, the NFT Art Market experienced high demand and fewer sellers in 2022, and created an intense competition to increase the prices of floor and process the sales volume. In 2022, as the speculation increased, the ratio became more balanced with its increasing trade and translation activity. In 2023, buyers and sellers point to a balanced, more mature and less speculative market.

NFT buyers

Unfortunately, in addition to stable sellers numbers last year, a sharp decline in buyers, decreasing demand and efforts to liquidate assets stressed. In the last three months, the market has experienced a cautious but stable environment with a small but consistent private collector community. As the NFT industry develops, Art NFTs are ready to develop as a refined and flexible segment of the wider NFT ecosystem.