NFT Market Decline Continues Despite Recent Activity and Sales
The NFT market has faced significant downturns since its peak in 2021, with trading volumes plummeting drastically. Key points include:
- Trading volume for NFTs reached $156 million in July 2025, far below the $3 billion recorded in August 2021.
- NFT art trading has declined by 93% since its peak.
- Despite some recent sales, such as 45 CryptoPunks for nearly $8 million and an Ether Rock for over $300K, overall market sentiment remains low.
The article discusses the cultural significance of NFTs, emphasizing that ownership and participation are central to their value. It highlights the case of "Bert is Evil," a historical meme minted as an NFT, which reflects on the challenges of establishing value in the current market. The creator struggled to gain traction due to perceived outsider status in the Web3 community, illustrating how reputation and community involvement greatly influence success.
Ultimately, the NFT serves as a reminder of the complexities of value and belonging within the crypto space. The narrative suggests that validation from the community can significantly affect perceptions of worth, regardless of individual sentiment towards the asset.