More NFTs, less money: Supply rose to 1.3B as sales fell 37% in 2025

NFT minting accelerated even as buyers spent less, pushing the market toward a high-volume, low-price dynamic.

The non-fungible token (NFT) market expanded in total supply, but saw significantly lower sales in 2025 compared with previous years. 

CryptoSlam data shows that the total number of NFTs in circulation climbed to more than 1.34 billion this year, marking a 25% increase from the one billion supply in 2024. The increased supply came in parallel with falling sales. 

According to CryptoSlam data, NFT sales reached about $5.63 billion in 2025, down by about 37% from the $8.9 billion recorded last year. Average sale prices also declined year-on-year, slipping to $96 from $124. 

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