The NFT market saw a 25% increase in supply in 2025, reaching 1.34 billion NFTs. However, total NFT sales revenue dropped by 37% to $5.63 billion, and the average NFT sale price declined from $124 to $96. Market capitalization contracted to $2.4 billion, down from the peak of $17 billion in April 2022, indicating weakening demand amid the oversupply.