NFT Sales Plunge 12% as Marketplaces Shut Down – Is the Digital Collectibles Dream Fading?

The NFT market is experiencing a sharp downturn. In March 2025, sales saw a significant drop of 12.4%, according to research from Binance, highlighting a critical shift in sentiment. This decline, particularly concerning for Ethereum-based NFTs which experienced a massive 59.3% decrease, raises questions about the future of digital collectibles. Several prominent NFT marketplaces have closed recently – like Bybit and X2Y2 – signaling the struggle within this sector.