Nobody Wants Your NFTs
Olivia Capozzalo & Squiffs _
December 10, 2025
gm Defiers!
Today’s big story:
- Muted demand for Doodles’ new Doopies collection mint is putting the NFT sector’s lethargy on display, as volumes and floor prices continue to drop.
In other news:
- Stripe’s Tempo launches testnet
- Swapper and Mastercard team up
- Animoca Japan, Solv partner on Bitcoin DAT infra
- BMIC Paves the Way for Crypto’s Quantum Computing Revolution [SPONSORED]
Read more below! But first, please give our sponsors some love; they make this newsletter possible.
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In the third episode of our Avalanche Ecosystems mini-series, we explore one of crypto’s biggest trends: real-world asset (RWA) tokenization. From land records to treasuries and equities, Avalanche enables institutions to create true onchain assets and not just wrappers. With insights from Ava Labs, Balcony, Grove, and Dinari, we explore how Avalanche is powering the next wave of RWA innovation.
We’re back! Here’s what you need to know in web3 today
📈 Markets in the Past 24 Hours
| TICKER | VALUE | 24H | |
|---|---|---|---|
 | Bitcoin | $91,996 | -1.22 % |
 | Ethereum | $3,339.3 | 0.64 % |
 | XRP | $2.06 | -2.55 % |
 | BNB | $895.81 | -1.22 % |
 | Solana | $137.86 | -1.49 % |
Today’s Big Story
Doodles Puts NFT Sector Lethargy on Full Display with New Mint
Your NFTs are actually — finally — totally worthless, and this time that’s not just a mainstream media clickbait headline.
NFTs have struggled since the market turned a new leaf in 2023, and outside of the 2024 pump and dumps, when every major NFT collection rushed to launch fungible tokens, the asset class has seen a consistent slowdown in prices, demand, and interest, even from digital art devotees.
Former “blue chip” NFT collection Doodles are putting the space’s lethargy on display with their new Doopies collection mint, which looks to mint 20,000 Collector Cube NFTs at 1 SOL (~$140) per piece, and 5,000 Hyper Cubes.
So far, only 38% of Collectors Cubes have been minted and just 12% of the Hyper Cubes have been minted, proving that there is simply no public demand for yet another Doodles NFT mint.
To make matters worse, more than half of existing Doodles collectors couldn’t be bothered to register to mint their free Collector Cubes, with just 2,368 out of the 4,420 Doodles holders claiming their two free Doopies NFTs — which should theoretically be worth at least a combined $240 (mint price), more than 10% of the price of their Doodles NFT.
NFT volumes are down horrendously, and most major collections gave their bagholders one final attempt at an exit pump as they launched fungible tokens. In the leadup to token launches, collections like Doodles ran from $5,000 to $20,000, Pudgy Penguins from $20,000 to $113,000, and Azuki from $3,000 to $20,000.
Now, Doodles are worth just $1,700 a pop, Pudgy Penguins’ floor sits at $18,000, and Azuki at $2,500.
Trading volumes continue to trend down as well, with average trading volume falling from roughly 1 million ETH per day in January 2023, just weeks after FTX collapsed and crypto sentiment was at its lowest, to 1,000 ETH per day today.
NFT daily trading volume in ETH. Source: Dune
Digital art continues to do okay, albeit propped up by illiquidity due to low supply sizes, and the market’s one consistent bright spot over the last few years remains artist XCOPY, who continues to receive relatively strong demand for new mints and 1/1’s, considering the market conditions.
That being said, the NFT avatar market’s slow, anemic, condition is just another box ticked for crypto nihilists, leaving believers with both low spirits, and significantly less money.
Squiffs, resident degen at The Defiant
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🎬WATCH
More Than Wrappers | RWAs on Avalanche | Ecosystems, Ep. 3
In our third episode of the Avalanche Ecosystems mini-series, we dive into one of the most important trends in crypto: tokenization of real-world assets (RWAs). From land records to treasuries, private credit, and publicly traded equities, Avalanche is enabling institutions to not just issue onchain wrappers, but to create the real thing. It's tokenization the right way.
With interviews from Luigi D’Onorio DeMeo and Morgan Krupetsky (Ava Labs), Dan Silverman (Balcony), Kevin Chan (Grove) and Gabriel Otte (Dinari), we explore how Avalanche’s architecture is powering a new wave of RWAs across finance, government infrastructure, and consumer applications.
Watch the mini doc here:
This content is part of a media partnership between The Defiant and Ava Labs
Top News in the Past 24 Hours
- Payments-Focused Tempo Blockchain Launches Public Testnet Tempo, a payments-focused blockchain developed by Stripe and Paradigm, launched its public testnet on Tuesday, Dec. 9, allowing developers to begin building on the blockchain. Why it matters: The testnet comes shortly after Tempo raised $500 million in a Series A funding round led by Thrive Capital and Greenoaks.
- Swapper Finance Launches Card Deposits to DeFi via Mastercard Swapper Finance, a fiat-to-DeFi payments platform, has launched a feature that lets users deposit funds directly into decentralized finance applications using traditional banking cards. Why it matters: The new feature is launched in collaboration with Mastercard and Chainlink, and aims to make it easier to onboard into DeFi.
- Animoca Teams Up with Solv to Boost Corporate Bitcoin Adoption in Japan Solv Protocol, a DeFi platform focused on Bitcoin, has teamed up with Animoca Brands Japan to expand institutional on-chain treasury services in Japan. Why it matters: The move is meant to simplify investing in BTC as a treasury asset for organizations that are not familiar with crypto.
Trending on The Defiant
- Crypto Market Rallies Ahead of Fed Meeting
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