Non-fungible tokens (NFTs) experienced a sales rebound in May 2025 after several months of decline.
According to CryptoSlam data, NFT sales surged to $430 million in May, a 15% increase from April's $373 million. This marks the first month of sales growth this year, indicating renewed interest in digital collectibles.
This rebound follows a peak in December 2024 when sales exceeded $900 million, after five consecutive months of decline. According to CryptoSlam, May was also the month with the highest trading volume in 2025, reaching 5.5 million transactions.
The sales growth may be attributed to a divergence between unique NFT buyers and sellers. In May, the number of NFT buyers continued to rise, while the number of sellers decreased.
The number of unique buyers in May saw a significant increase. The number of users purchasing NFTs grew by 50%, rising from approximately 622,000 in April to over 936,000 in May.
The number of buyers in May was the highest since October 2024, suggesting increased investor participation this month.
While the number of buyers increased, the number of unique sellers continued to decline. In May, the number of NFT sellers dropped to approximately 284,600, the lowest level recorded on the CryptoSlam platform since April 2021.
The divergence between growing buyer interest and decreasing seller activity may lay the groundwork for more competitive bidding, potentially leading to higher valuations.
CryptoSlam strategist Yehudah Petscher stated that the market is expected to rebound, but the outlook is more moderate than during previous peak periods.
Petscher told Cointelegraph in an interview, "The NFT market is likely to see a rebound this year, possibly right after Bitcoin (BTC) reaches its cycle peak." He hinted that the momentum for digital collectibles will follow broader cryptocurrency market trends.
Despite the bullish sentiment, the strategist told Cointelegraph that the return of NFTs may not resemble the peaks of 2021 or 2022. Petscher said, "Don't expect a repeat of the NFT craze we saw in 21/22."
Meanwhile, DappRadar analyst Sara Gherghelas stated in a report on May 27 that the industry needs new catalysts to fully rebound. The analyst noted that real-world assets (RWA) linked to NFTs could reignite the lending space for digital collectibles.
RWA NFTs also showed potential earlier this year. In April, digital collectibles in the RWA market Courtyard drove Polygon-based NFT sales to $22.3 million, surpassing Ethereum in weekly sales.
Related: Bitcoin (BTC) price remains stable due to corporate adoption and "inflation hedge" narrative
Original article: “CryptoSlam: NFT Monthly Sales Break Decline Trend in May 2025”
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