From boom-era prices to utility and real-world use

In 2021, a non-fungible token (NFT) by digital artist Beeple was sold for a staggering $69.3 million at a Christie’s auction. Roughly a year later, blockchain entrepreneur Deepak Thapliyal bought a CryptoPunk NFT for $23.7 million in one of the most expensive digital art pieces ever sold.

But those were the glory days of NFTs, when digital collectibles routinely commanded eight-figure prices and mainstream institutions rushed to legitimize the market.

In 2025, the market has changed, with NFT trading volumes down sharply from their 2021 peaks and…