As 2025 draws to a close, the collectibles market continues to demonstrate resilience and evolution amid shifting consumer preferences and economic factors. This article compares sales volumes (in revenue terms, as reported by industry sources) for key categories—comics, trading cards, and toys/action figures—across physical and digital (NFT) formats. Physical collectibles generally saw modest to strong growth, driven by nostalgia, pop culture tie-ins, and expanding retail channels. In contrast, the digital NFT space experienced a notable decline in overall sales volume, reflecting market maturation, reduced speculation, and broader crypto volatility. Data for 2025 is based on year-to-date figures and projections, as full-year reports are pending. All figures are global unless specified.
Overall Market Snapshot
The broader collectibles market grew from approximately $306 billion in 2024 to a projected $325-350 billion in 2025, with physical items leading the charge. Physical segments benefited from increased demand in emerging markets and online resale platforms, while digital collectibles, particularly NFTs, faced headwinds. Here's a high-level comparison:
Note: NFT figures represent total market sales volume, with collectibles (including comics, cards, and figures) comprising a significant portion, estimated at 30-40% based on category breakdowns.
Comics
Physical Comics
The physical comics market maintained steady growth, fueled by major releases from publishers like Marvel and DC, as well as rising interest in vintage and graded issues. Sales volume rose from $16.83 billion in 2024 to a projected $17.69 billion in 2025, representing a 5% increase. Retailers reported strong performance, with some noting a 22% uptick in 2024 over 2023, a trend that continued into 2025 thanks to events like Comic-Con and social media-driven hype. The market's CAGR is estimated at 4.5-8.7%, with projections reaching $26-37 billion by the early 2030s
Digital Comics (NFTs)
Digital comics via NFTs had limited specific data available but mirrored the broader NFT market downturn. Platforms like VeVe continued to offer licensed Marvel and Disney NFTs, yet overall NFT art and collectibles sales declined sharply. The art NFT segment, which includes digital comics, generated roughly $2.9 billion in 2021 but fell dramatically, with combined art and collectibles reaching about $7.5 billion in 2023 before dropping further—2024-2025 volumes were significantly lower, with monthly art sales often below $100 million and Q1 2025 totaling just $23.8 million. The broader digital comics market (beyond NFTs) grew from approximately $3.2 billion in 2024 to a projected $3.5 billion in 2025, but NFT-specific contributions remained minimal amid the sector's 32% year-over-year sales volume decline.
Trading Cards
Physical Trading Cards
Trading cards experienced one of the strongest growths among physical collectibles, with sales climbing from $13.3 billion in 2024 to $14.76 billion in 2025, a 11% rise. Sports cards led the way, surging 200% on platforms like Walmart from early 2024 to mid-2025, while non-sports categories like Pokémon and Magic: The Gathering benefited from new expansions and esports tie-ins. The market's CAGR is around 8-9%, with projections to $21-28 billion by 2034.
Digital Trading Cards (NFTs)
NFT trading cards, popularized by platforms like NBA Top Shot and Sorare, followed the general NFT trend downward. While specific 2025 volumes are not isolated, collectibles dominated NFT sales counts (367,129 transactions), but revenue stabilized low. NBA Top Shot alone exceeded $1 billion in all-time sales by mid-2024, but 2025 monthly volumes averaged under $500 million across NFTs, with trading cards comprising about 15-20% of that. Overall, the segment saw reduced activity compared to 2024's peaks.
Toys/Action Figures
The toy collectibles and action figures segment thrived, with sales volume increasing from $19.2 billion in 2024 to approximately $21.2 billion in 2025 (CAGR 10.6%). U.S. action figures alone grew 6.4% to $3.26 billion, while global toys rebounded strongly in H1 2025 with 7% growth. Brands like Funko Pop! and Hasbro drove demand through limited editions and movie tie-ins, with the broader toy collectibles market projected to hit $40-45 billion by 2030-2032.
Digital Toys/Action Figures (NFTs)
NFTs for toys and action figures, such as Mattel's Hot Wheels and Barbie collections, were part of the "phygital" trend blending physical and digital. However, sales volumes mirrored the NFT market's decline. Collectibles categories in NFTs had high transaction counts but low average values, with total NFT sales dropping from $8.8 billion in 2024 to around $6 billion in 2025. Specific toy NFT volumes were not breakout-reported, but the segment contributed to the 25% gaming/collectibles share of NFT trading.
Digital Collectibles (NFTs) Overview
The NFT market as a whole contracted in 2025, with year-to-date sales volume estimated at $6 billion, down 32% from 2024's $8.8 billion. Early 2025 showed promise with January volumes near $700 million, but by November, they fell to $320 million amid reduced hype and market cap shrinkage from $9.2 billion to $3.1 billion. Collectibles remained the top category by sales count, but gaming (38% of transactions) and PFPs drove more revenue. Broader digital collectibles (including non-NFT formats) grew to $10.95 billion in market size, but pure NFT trading volumes declined.
Conclusion
2025 highlighted a divergence in the collectibles space: physical items posted solid gains across comics, trading cards, and toys/action figures, benefiting from cultural relevance and accessible markets. Digital NFTs, however, cooled off significantly, with sales volumes dropping amid maturation and less speculative fervor. Looking ahead, hybrid "phygital" models may bridge the gap, potentially revitalizing NFTs in 2026. Collectors should watch for sustained physical growth and any NFT resurgence tied to blockchain advancements.
Thanks for reading. The collectibles market continues to evolve, with physical and digital assets each playing a key role in where capital and collectors are moving next. We’ll keep tracking the data and trends so you can stay informed and ahead of the curve.
Happy collecting,
Ceelow G.