The NFT sector in 2025 is playing out completely differently from the speculative wave of previous years.

First, let's talk about market size: the global NFT market is now around $49 billion, up significantly from $36 billion last year. This scale can't be sustained by hype alone—real use cases are genuinely expanding.

On-chain, Ethereum still dominates, with over 60% of transactions running on ETH. But up-and-comers like Solana and Polygon aren't sitting idle—especially in gaming and brand collaborations, they've carved out their own territories. Now, there are over 100 active NFT platforms globally. OpenSea is still the leader (with over 2.4 million monthly active users), but the ecosystem is no longer dictated by a single player.

The most interesting change is in category structure. Gaming NFTs are now the absolute main force, accounting for nearly 40% of trading volume. Digital art and music follow closely, but perhaps more surprisingly, real estate and fashion tokens are quietly rising. The market value of tokenized property certificates has surpassed $1.4 billion, and fashion wearable NFTs are close to $900 million.

Another trend that can't be ignored: "phygital" NFTs (physical + digital), which are tied to physical goods, have surged 60% year-over-year. Luxury brands are all experimenting with this new approach, using tokens to connect online and offline consumer experiences.

In short, NFTs have moved from being purely speculative tools to becoming the foundational infrastructure for real-world applications.