Non-fungible tokens are one of the admirable applications of blockchain technology. Ethereum has brought a viable network to launch and trade NFT collections, which led to the boom of NFTs in 2021 and 2022.  However, their trading activity and the hype around NFTs diminished largely in the last couple of

• The number of NFT traders on Ethereum surpassed 40K and reached 2022 levels. 
• The NFT market is growing to be an essential infrastructure for emerging spaces like gaming and AI. 

Non-fungible tokens are one of the admirable applications of blockchain technology. Ethereum has brought a viable network to launch and trade NFT collections, which led to the boom of NFTs in 2021 and 2022. 

However, their trading activity and the hype around NFTs diminished largely in the last couple of years. The lack of utility is believed to be the major reason for this. Almost 2 years after going into exile, the NFT market seems to be silently building and preparing for a takeover. So, what’s ahead for the future of NFTs? 

Ethereum NFT Traders Surge Following the OpenSea Revamp

The number of NFT buyers and sellers witnessed a sharp spike this month on Ethereum. From the low levels of less than 5,000 in earlier months, they increased to around 40K in the first week of June, 2025, since 2022. 

The top NFT marketplace, OpenSea, has recently revamped the platform, which could be the major reason behind the traders’ surge. OpenSea is the largest NFT marketplace on Ethereum, and it has recently launched OS2 after exiting the beta phase. This has resulted in an increase in the number of monthly active users on the platform in May 2025. 

OpenSea has also released an incentive program called “Voyagers” and started rewarding users with “XP” points for using the platform. The users of the platform believe these XP points will be used in the future OpenSea’s airdrop. OpenSea’s revamp, combined with its rewards program, has resulted in the surge of Ethereum NFT traders. 

What’s Next For NFTs?

The NFT market is gradually growing to be a core infrastructure for several emerging spaces like gaming and AI. After being questioned for their true utility for several years, NFTs are now developing their technological infrastructure to develop a robust real-time utility in the crypto space. 

The individual ownership and usage rights are invaluable features for not only the gaming ecosystem but also for AI agent development. The NFT technology holds the potential to redefine digital ownership, interoperability, and data rights. It will only be a matter of time for the NFT market to take over the crypto space. 

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