Clear signs of recovery in the NFT market, the popularity of blue-chip collectibles is on the rise

Recently, the NFT market has shown a clear sign of recovery. After months of sideways consolidation, the market has finally begun to show signs of warming: the floor prices of collectibles have risen, market capitalization has rebounded, and some emerging NFT projects are starting to surpass established collectibles. From Pudgy Penguins surpassing BAYC to the unexpected return of Art Blocks, the atmosphere in the NFT market is undergoing significant changes.

Market Overview

The NFT market performed remarkably in July. The market capitalization surged by 94%, reaching nearly $7 billion, setting a new high since early 2025. Weekly trading volume increased by 51% to $136 million, making July likely to be one of the best-performing months since February.

The average price of NFTs increased by 40% over the week, reaching $146. However, trading volume only grew by 7%, indicating that traders are moving towards higher value assets. This trend reflects that the market is undergoing changes, and the blue-chip stock craze is making a comeback.

Popular NFT Categories

In the past week, PFP NFTs performed the best, accounting for 37% of the total trading volume. Next were RWA NFTs, which accounted for 11%, indicating that the tokenization narrative still has vitality. However, NFTs in the fields of sports, music, and fashion did not follow the overall market rise. Game NFTs, although stable in performance during the second quarter, saw a significant decline in sales this week.

The dominance of PFP aligns with the current market sentiment. Whenever the NFT market heats up, PFP always takes the lead, similar to previous bull market cycles.

Outstanding NFT Series

Pudgy Penguins: New heavyweight collection

The market value of Pudgy Penguins has surpassed that of Bored Ape Yacht Club, now second only to CryptoPunks. Since its launch, its floor price has increased by 539%, with a 7% rise just this week. The project's success is attributed to its launch during a bear market and its expansion of influence through a diversified strategy (such as IRL benefits, connecting Web2 and Web3, promoting plush toys in Asia, etc.).

CryptoPunks: Back in the Spotlight

The floor price of CryptoPunks rose by 53% this week, making it one of the most actively traded collectibles. As an NFT that was minted for free in 2017, CryptoPunks tends to regain the spotlight whenever the market warms up. For many collectors, owning a CryptoPunk is not just about investment; it is also a symbol of identity.

Moonbirds: Unexpected Rebound

Moonbirds has performed exceptionally well recently, with a floor price increase of 60% and a trading volume surge of 600%. This rebound is attributed to its new owner's collaboration with Towns, providing holders with private on-chain space and airdrop opportunities. Nevertheless, the dollar value of Moonbirds has still dropped by 64% since its launch, and there is still a long way to go for future development.

Art Blocks: Quietly Returning

Art Blocks has re-entered the ranks of the highest trading volume collections, with an average price surge of 156%. On July 10, the platform launched a series of major updates, including collector profiles, wallet aggregation, and an achievement system, greatly enhancing the user experience. The market reacted positively, with top projects like Fidenza gaining renewed attention, and artistic elements once again becoming the focus of NFT discussions.

Conclusion

In the past week, we have seen signs of a possible revival in the NFT market: rising floor prices, PFPs regaining dominance in the market, and a strong return of art NFTs. Pudgy Penguins surpass BAYC, CryptoPunks gain popularity again, and Moonbirds emerge suddenly. These signs indicate that the NFT market is undergoing a transformation, and investors' attention is refocusing on the NFT space.