The NFT market experienced a significant decline in 2025, marked by a sharp decline in overall sales volume and a substantial decline in overall market capitalization. The market value fell by approximately 74%, falling from a peak of $9.2 billion in January 2025 to just $2.4 billion in December 2025. This underperformance has sparked a heated debate in the crypto community over whether NFTs will make a comeback in 2026.
The NFT Market Forecast
The non-fungible token market is currently experiencing significant volatility, keeping global trading sales volume below $11 million. The NFT market started showing cracks in 2025. The NFT market’s significant downturn in 2025 was a continuation of a bear market that began in 2022, accelerating in value from January 2025 and worsening by year’s end.
Fortunately, the NFT market is showing slight signs of recovery in early 2026 after a prolonged downturn, but this upward movement appears to be driven by existing capital rather than new investment. This indicator has pushed the market forecast for a new bull run to an all-time high. Polymarket, a prediction market that allows users to win or lose based on the outcome of world events, has put the odds for the NFT comeback in 2026 at 65%.
JUST IN: Probability of NFTs Making a Comeback in 2026 Hits an All-Time High of 65% pic.twitter.com/SzWiRH4ZaQ
— Luidji (@imluidji) January 13, 2026
While market sentiment can change quickly, some NFT experts expect the broader NFT market rally to continue into 2026. Nevertheless, the global NFT market is in a phase of structural change and is not guaranteed to return to the speculative highs of 2021. The size of the global NFT market, estimated at $61.01 billion in 2025, is expected to reach $86 billion by 2026, with an annual growth rate (CAGR) of 41.8%. until 2035.
NFTs will deliver the best returns and be the most hated trade of this bull run. Just like last time.$ETH goes to 10k+ and when that happens, NFTs move violently, not rationally. ATHs are being printed while people are still tweeting, “I don’t see the value.”
This run will…
— Hemdawg (@Hemdawg_) January 14, 2026
NFT use cases in the next bull run
The next NFT bull run will likely be fueled by a transition from speculation-driven market hype to utility-driven projects, institutional adoption, and progress in integration with gaming and the metaverse. Tokenizing physical items, such as real estate, luxury goods and collectibles, will provide tangible value support and reduce risk. NFTs will also serve as verifiable event tickets, reducing fraud and providing additional benefits such as exclusive access or digital memorabilia.
NFTs are fundamental to play-to-earn economies and metaverse platforms, allowing ownership of in-game items, avatars and virtual lands. Companies will start using NFT collections for loyalty programs and community building, offering holders unique rewards, discounts and exclusive experiences. NFTs can represent patents, academic credentials and digital identities on-chain, improving transparency and security across industries. These NFT use cases will fuel the next bull run.
Related NFT news:
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