
NFTsNews
The NFT market's quiet recovery is driven by things nobody was watching
Trading volume is up, but the composition of that volume tells a different story than the last cycle.

The headline
NFT trading volumes are rising again after a long dormant period. But the mix has changed. The most-traded collections are not the profile-picture blue chips of the last cycle — they are utility-linked passes, gaming assets, and on-chain music formats.
Where the volume is coming from

- Gaming asset marketplaces have seen the sharpest recovery
- Membership and access passes now account for a meaningful slice of weekly volume
- Music NFTs remain small but have grown consistently for six months
What is not recovering
Speculative profile pictures without a live community, and generative art collections whose only distribution moment was the mint, have not participated. This is arguably a healthier composition than the last peak.
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