NFTs are back: DappRadar reports record sales of 18 million in the market’s biggest comeback of 2025

NFT transactions skyrocketed to record highs this year as the industry sees strong engagement from existing traders.

The non-fungible tokens (NFT) market is witnessing a strong recovery in activity this year as sales volume has reached levels unseen since 2022, according to a new report from DappRadar.

Although overall trading volumes remain relatively subdued due to lower average prices, the number of transactions will increase sharply by 2025.

From slump to peak

7 million NFT sales were recorded in the first quarter, rising to 12.5 million in the second quarter. Momentum accelerated further in the third quarter, with more than 18.1 million NFTs sold, up 45% from the previous quarter, and trading volume of $1.6 billion.

Despite this increase in transactions, DappRadar states that actual user adoption remains modest. The number of unique wallets trading NFTs increased from 1.66 million in the first quarter to 2.14 million in the third quarter, a relatively smaller increase than the revenue spike. This means that individual wallets are trading more NFTs on average, from roughly 4.2 per wallet in the first quarter to 8.4 in the third quarter, indicating that existing participants are becoming more active rather than new users entering the market.

Among NFT categories, gaming was the notable laggard. DappRadar reported a 17% drop in trading volume and a steep 32% drop in the number of gaming-related NFT transactions last quarter.

On the other hand, the sports NFT sector has seen an impressive rebound as this cohort’s trading volume rose 337% to $71 million, while the number of sales rose 143% to 4.1 million. The increase is largely attributed to Sorare, the fantasy sports platform that offers digital collectibles for football, basketball and baseball. The platform’s success, buoyed by the launch of new sports seasons, has helped offset weakness in other sectors.

Airdrops and OG NFTs

The recent upturn can also be linked to strategic campaigns and a renewed interest in older projects. A major contribution was made by OpenSea’s campaign ahead of the expected token launch, which rewarded active traders and incentivized frequent transactions. This initiative encouraged users to trade lower value NFTs to qualify for rewards and boosted the platform’s overall activity.

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As a result, OpenSea’s Q3 sales increased 29% to 9.27 million assets sold.

At the same time, profile photo collections (PFP) have regained prominence, led by leading projects such as CryptoPunks, Bored Ape Yacht Club (BAYC), Moonbirds and Pudgy Penguins. Trading volume for PFPs rose 187% quarter over quarter to $544 million, amid renewed collector confidence.

Complementing the revival, Yuga Labs streamlined its portfolio during the same period to focus on BAYC, Mutant Ape Yacht Club (MAYC) and Otherside. Meanwhile, Moonbirds, now under Orange Cap Games, has emerged as the standout revival of the third quarter, with sales of 8,311 NFT worth $88 million, thanks to new momentum building around the upcoming BIRB token launch on Solana.