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After five months of decline, NFT monthly sales roared back to life in May, climbing to $430 million—a 15% jump from April’s $373 million, according to CryptoSlam. The rebound marks the first positive growth since December 2024, fueled by a staggering 50% surge in unique buyers. Analysts suggest this could signal a turning point for the digital collectibles market, but caution that the euphoria of 2021’s bull run remains unlikely.
May’s NFT monthly sales revival wasn’t just about revenue—it reflected a seismic shift in participation. Unique buyers skyrocketed to 936,000, up from 622,000 in April, reaching levels last seen in October 2024. Meanwhile, transactions hit 5.5 million, the highest volume recorded in 2025.
“The NFT market will see a bounce back this year, probably just after BTC sees its top of the cycle,” Yehudah Petscher, CryptoSlam strategist, told journalists. “But don’t expect a repeat of the 2021 euphoria.”
The divergence between buyers and sellers is even more striking. While buyer interest surged, unique sellers plummeted to 284,600—the lowest since April 2021. This imbalance could tighten supply, potentially driving up prices for high-demand collections.
Experts point to three key factors behind May’s NFT monthly sales resurgence:
Bitcoin’s stability: As crypto markets steadied in May, investor confidence trickled into NFTs.
Real-world asset (RWA) NFTs: Projects like Courtyard’s tokenized collectibles (e.g., rare Pokémon cards) gained traction, with Polygon-based monthly sales briefly overtaking Ethereum’s in April.
Speculative momentum: Fewer sellers mean scarce assets—a recipe for bidding wars.
“The sector needs fresh catalysts,” noted DappRadar analyst Sara Gherghelas. “RWA-linked NFTs could reignite lending and utility beyond speculation.”
Despite May’s rally, NFT monthly sales remain less than half of December 2024’s $900 million peak. Petscher warns the recovery will be “tempered”, with sustainability hinging on:
Institutional adoption of RWAs.
Improved liquidity mechanisms.
Cultural shifts (e.g., gaming or music NFTs going mainstream).
“We’re seeing organic demand, not hype,” Petscher emphasized. “That’s healthier long-term.”
May’s NFT monthly sales rebound offers cautious optimism. With buyers returning and innovation accelerating, the market may finally be carving a post-bubble identity. But as Gherghelas puts it: “NFTs need to prove they’re more than JPEGs to keep this momentum.”
