Are People Still Using NFTs in 2025 and Beyond? How We Will Use NFTs and Blockchain
If you are reading this in 2024, we are not time travellers, we just wanted to ensure that this article was captured in the active conversation that is 2025.
NFT mania took the tech world by storm in the early 2020s (2020–2022) but the hype has since died down significantly.
If you check OpenSea, you will find even the most popular NFT collections have significantly decreased in value but they are not completely dead.
Companies are still interested in blockchain technology and NFTs seems like a good way to tokenize digital assets cryptographically.
In this article, we take a look at NFTs, try to explain how they work, why they “failed” and whether there is any sort of intrinsic value in them.
We ultimately believe the proper use case of blockchain has not been found yet and NFTs was a failed experiment. 2025 might be the year of better implementation and integration into our lives.
What are NFTs?
NFT stands for “non-fungible token” and it was meant to refer to the digital ownership of assets that can be proved using these tokens.
They exist on the blockchain similar to standard transactions but they offer people the opportunity to record ownership of an image, video or anything digital on the blockchain.
The Bull Run of the Early 2020s
The amount of hype for AI I think was dwarfed by the sheer mania around cryptocurrency in the early 2020s.
Everyone was talking about cryptocurrency. The price of major cryptocurrencies skyrocketed and the hype only intensified reaching all corners of social media.
Picking up momentum to the side was the idea of NFT and that picked up substantial traction from the overall cryptocurrency hype.
Popular NFTs like Bored Apes were selling for millions, celebrities were trying to create their own NFT collections and selling them to fans, companies and brands were digitizing collectibles and memorabilia using NFTs.
A lot of this content still exists on the blockchain which is a feature of NFT. As long as the blockchain is still active.
More importantly, many creators, brands and NFT enthusiasts have remained active in the space leading us to believe there is some value in it.
Recent NFT and Blockchain News
The NFT market experienced a significant decline in September 2024, with sales falling to $296 million, marking an 81% drop from the peak of $1.6 billion in March 2024.
This represents the lowest monthly sales volume since January 2021, with transactions decreasing by 32% from 7.3 million in August to 4.9 million in September.
Market Overview
Despite the overall decline, the average transaction value increased by 18%, from $50.71 in August to $60 in September. This is still way off the transaction value we saw in 2021 and 2022.
This suggests that while fewer NFTs are being sold, those that are selling are commanding higher prices.
Top Performers
CryptoPunks remained the most-selling NFT collection, recording a trading volume of $16 million in the past seven days, despite a 12% decline from the previous month.
NodeMonkes, a Bitcoin-based NFT collection, showed resilience with a 21% surge in sales volume, reaching $9.4 million.
Bitcoin and Cryptocurrency Holding Steady
The slash in the value of the NFT market has coincided with what seems to be months of consolidation of Bitcoin’s price at $60,000. Since the rapid increase in February this year, the market has seen dips and more dips but overall remained quite steady.
Ethereum’s price is directly relevant to NFT traction and usage. The price is down over 28% as of October 13th 2025 across the last 3 months which is drastically worse than Bitcoin’s measly 2% down in the same period.
NFTs success is inherently based on the success and further adoption of cryptocurrency.
It can be argued that the resurgence in price over the past year is a symptom of the institutionalization of cryptocurrency especially through ETFs.
Hence, a lot of the value currently held in assets is not being transferred over to NFTs. Which is probably the reason why NFTs are down so much while general cryptocurrency is relatively stable.
The question is whether NFTs will ever become as popular as there were in the early 2020s? Is that a question even worth asking? Not really and the mean reason is a lack of interest.
A lack of interest and tangibility
It’s not expected that institutions investing into ETFs and Bitcoin will wonderfully decide that “Wow, we have so much ETH just sitting here, why don’t we buy a bored ape?
In 2025, as Bitcoin continues to consolidate or maybe even rally further, NFTs unfortunately probably won’t be front of mind for crypto investors. Unless, there is a change in the way we use NFTs.
Instead of just using it to sell images, we could build an entire network of cryptographically encrypted assets. Assets that are less subjective than random art.
Perhaps certain NFTs could increase in value not by subjective means but as a function of network effects. For example, if ETH were to increase by 5%, so would all NFTs on the network.
Our Own NFT Artworks
Our winter collection set to be released in November will feature artworks that have been uploaded to several chains such as Polygon and Ethereum.
The plan is not to sell them but rather just store the assets somewhere else that isn’t a real-life canvas or on just on our website or Instagram.
This will make the collection viewable to chain scanners. Our collection will be buried by new blocks but maybe sophisticated Blockchain search engines might be able to find it still.
You can check it out here.
How is it different to just an image on your phone?
The biggest difference is the immutability that blockchain offers. Once an asset is added, it can’t be changed and the ownership will always be linked to your wallet.
Additionally, there is no single party responsible for maintaining the servers that hold your image data. If Instagram is down, nobody can see our posts.
This will not be the case for our NFT artworks.
Overall, we are exploring all sorts of ways we can best utilize blockchain with the content we currently have and NFTs seems the most viable for us right now.
Thanks for reading. If you are interested in learning about the winter art collection featuring digital art by us, click here.
You check out our other articles and art here.
