Market Recovery and Pivot: NFT trading volume doubled quarter-over-quarter in Q3 2025 to $1.58 billion, with sales volume hitting a record high. However, growth drivers have shifted from speculative collectibles to utility-based scenarios like sports, ticketing, gaming, and intellectual property. Lower Infrastructure Costs: Ethereum's Dencun upgrade pushed Layer 2 fees down over 90%, Solana's compression tech enables low-cost mass issuance, and Bitcoin inscriptions have formed an independent ...