Question of the Day: What percentage of the NFT market's value has been lost since its peak?
Answer: About 93% (from $2.9 billion to $23.8 million)
Questions:
- What do you think caused the NFT market to crash after being so popular?
- How is an NFT different from an investment in a stock or mutual fund? What makes something speculative vs. an investment?
- If a friend told you about a brand-new digital asset that "everyone is buying," what questions would you want answered before investing your money?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (DappRadar):
- Art NFT trading volume collapsed by 93% since the 2021 peak, dropping from $2.9 billion that year to just $197 million in 2024, and further declining to $23.8 million in Q1 2025.
- The average Art NFT price peaked at $2,044 in 2021, driven by record-breaking sales. Prices dropped 39% to $1,251 in 2022, before bottoming out at $475 in 2023.
- Interestingly, Bitcoin NFTs (Ordinals) bucked the trend, with average prices surging 896% from $63 in 2023 to $633 in Q1 2025, reflecting growing collector interest in Bitcoin-backed digital art.
- Active traders hit an all-time high of 529,101 in 2022 but plummeted by 96% to just 19,575 in Q1 2025.
About the Author
Dave Martin
Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.
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