Analysis: NFT supply grew in 2025 as revenue and average prices fell sharply

The NFT market saw a significant increase in supply this year, but this was met with a sharp decline in sales revenue compared to the previous year, Cointelegraph reported, citing data from CryptoSlam. According to the data, a total of 1.34 billion NFTs were circulated in 2025, a 25% increase from one billion in 2024. In contrast, total NFT sales revenue fell by approximately 37% to $5.63 billion from $8.9 billion last year, and the average sale price for an NFT dropped from $124 to $96. The report suggests that NFT supply has outpaced demand, with the market's ability to absorb new assets weakening. The total NFT market capitalization has contracted to its current level of $2.4 billion after peaking at $17 billion in April 2022.