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The global non-favorable token market has cooled considerably from the previous of all time, with commercial sales volume, sales counts and floor price values that fell to their weakest levels since 2020. The NFT market has won a considerable momentum in 2021, with the total market boundary to around $ 13 billion, a dramatic increase of only $ 33.
The NFT market health since 2020
This historic NFT -BOEM was powered by cultural phenomena such as Peeple’s $ 69 million art sale and the popularization of avatar collections such as cryptopunks and Bored Ape Yacht Club, which established NFTs as an important digital asset class and aroused widespread interest. This Market Bull Run was largely fed by a huge increase in the participation of investors, mainstream celebrity and NFT brand acceptance and rapid innovations in blockchain technology. The mainstream NFT acceptance led to the creation of many NFT projects.
Fast forward to 2025, many NFT projects have fallen, and the floor price is almost zero due to a collapse of the speculative rownise, a oversaturated market, a lack of real-world utility or value, scams and carpet pulls, crypto-economic uncertainty and a complicated user experience. The number of failed projects, in particular those without trading activity or community, emphasizes the short lifespan and the high failure percentage of new NFT drops in an unstable market.
Various NFT marketplaces, including X2Y2, Bybit NFT market platform and LG Art Lab, will be closed in 2025 due to falling market volumes and the focus shifted to other areas such as artificial intelligence (AI). Other NFT platforms such as the Kraken NFT Marketplace also closed at the end of 2024 to re -assign resources, which demonstrates a wider trend in the NFT sector. Many NFT projects have also not retained value.
Fortunately, not all non-fungal token projects really feel the hardness in the NFT bear market. Many NFT projects that navigate through the Berenmarkt are aimed at development, community structure and usefulness, often by shifting tactics from “fast cash grip” to offering tangible value. The Moonbirds, Cryptopunks, Bored Ape Yacht Club and Pudgy Penguins are NFT collections that stand strong and stand up when the leading NFT projects in the middle of the NFT market that has melted.
Luca Netz weighs on the NFT market health
In an exclusive interview, Luca Netz, the Chief Executive of Pudgy Penguins, shared some of the tactics that new non-fungal token projects can use to be successful and always remain relevant despite ups and downs. Netz has derived its formula from Yuga Labs, the digital activa company behind the bored Ape Yacht Club NFT collection. According to Pudgy Penguins’ boss, Yuga Labs has set a standard for rewarding holders, making them successful. NFT projects can take over this tactic and make strong and solid NFT projects.
What Yuga did well and what went wrong as per @Lucanetz
1️⃣ Bayc Set Standard for rewarding holders and making it successful
2️⃣ What went wrong
– They gave a lot of (airdrops) but also took a lot of (coins)
– extensively too fast and lost simplicityDo you agree? 👇pic.twitter.com/6mnrm9opyh
– JBond (@jbondwagon) August 30, 2025
Nevertheless, the Pudgy Penguins Executive has marked some of the most important errors that the maker made of the bored Ape Yacht Club, which in the future had to be remedied and avoided at all costs. Netz noted that they gave many airdrops, but also took a lot of mints. It is worth noting that Yuga Labs is home to more than five NFT collections, including the Bored Ape Yacht Club, Mutant APE, Bored Ape Kennel Club and more. Yuga Labs launched many NFTs, expanded too quickly, but eventually lost the simplicity.
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