NFT Market Rides 94% Surge Past $7B as PFPs and RWAs Lead Blue-Chip Rally

The NFT market is experiencing a significant resurgence, with July data indicating a sharp rebound in investor activity and asset values. According to a report by DappRadar, the total market capitalization of NFTs surged 94% month-on-month, reaching nearly $7 billion—the highest level since early 2025. Weekly trading volume increased by 51% to $136 million, while the average NFT sale price rose 40% to $146. Despite a modest 7% growth in the number of trades, the data suggests a shift toward high-value assets, as collectors increasingly prioritize premium collections over volume [1].

Profile Picture (PFP) NFTs continued to dominate the market, accounting for 37% of total trading volume. Real-world asset (RWA) NFTs followed with 11% of the volume, reflecting growing institutional interest in tokenized physical assets. Other categories, including Sports, Music, Fashion, and Gaming NFTs, showed weaker engagement. The report highlights a consolidation of demand around established categories, with PFPs and RWAs outpacing emerging verticals [1].

Among individual projects, Pudgy Penguins emerged as a standout performer. The collection surpassed the Bored Ape Yacht Club (BAYC) in market capitalization and now ranks just behind CryptoPunks. Its floor price has skyrocketed 539% since its launch, with a 7% weekly increase recorded in July. Analysts attribute this success to the project’s consistent development during the bear market and its strategic expansion into Asia, including physical toy lines. Pudgy Penguins’ rise underscores the importance of long-term community engagement and diversified product offerings in driving NFT adoption [1].

Blue-chip NFTs also showed strong momentum. CryptoPunks saw a 53% increase in floor price, reaffirming its status as a cornerstone of the Web3 market. Meanwhile, Moonbirds experienced a 600% spike in trading volume and a 60% rise in floor price following new ownership changes and a partnership with Towns. However, Moonbirds remain down 64% in USD terms since their initial mint. The resurgence of these high-profile collections signals renewed confidence in blue-chip assets as benchmarks for market stability [1].

Art Blocks, a platform for generative art, is also regaining traction. Enhanced collector tools and user experience (UX) improvements have driven a 156% surge in average sale prices for projects like Fidenza. CoinGecko’s data further corroborates the market’s upward trajectory, reporting a 20% daily jump in total NFT market capitalization, from $5.1 billion to $6.3 billion, in early July [1].

The revival of the NFT market is being fueled by a combination of institutional interest in RWA NFTs and sustained demand for premium blue-chip assets. While the sector remains volatile, the 94% monthly increase in market capitalization and the outperformance of well-established projects suggest a shift toward quality over speculation. Investors are increasingly prioritizing collections with strong utility, community governance, and real-world applications, which aligns with broader trends in blockchain innovation [1].

Sources:

[1] [NFT Market Roars Back as Cap Nears $7B, Blue Chips Lead the Charge] (https://coinmarketcap.com/community/articles/6883928a47f0ca5c1f9bd1f9/)