🧑‍🚀 The NFT Recovery

Q: Bored Apes, Azukis, and Pudgy Penguins are up +60%, +35%, and +24% respectively over 30 days as the

Bored Apes, Azukis, and Pudgy Penguins are up +60%, +35%, and +24% respectively over 30 days as the NFT market recovery broadens beyond short-term price spikes.

Q: Active wallets on top Ethereum NFT platforms have doubled to ~30,000 since February 2026, and tokeni

Active wallets on top Ethereum NFT platforms have doubled to ~30,000 since February 2026, and tokenized trading card gacha spend is on track to hit an ATH of $211M this month.

Q: Art critic Brian Droitcour identifies blockchain formalism and schizocollage as the two defining NFT

Art critic Brian Droitcour identifies blockchain formalism and schizocollage as the two defining NFT art genres of the past few years, each with distinct relationships to Web3 infrastructure.

Bankless·Tuesday, May 12, 2026·5 min read

Crypto/Web3 Culture

Share𝕏 in

AI Summary

The Bankless newsletter reports that NFT markets are experiencing a significant recovery in May 2026, with major collections like Bored Apes (+60%), Azukis (+35%), and Pudgy Penguins (+24%) posting strong 30-day floor price gains. Active wallets on Ethereum NFT platforms have doubled to ~30,000 since February 2026, and tokenized trading cards (Pokémon, sports) are on track to hit an ATH of $211M in monthly gacha spend. The issue also features a quote from critic Brian Droitcour identifying blockchain formalism and schizocollage as the two dominant trends in NFT art.

Key Facts

✓Bored Apes, Azukis, and Pudgy Penguins are up +60%, +35%, and +24% respectively over 30 days as the NFT market recovery broadens beyond short-term price spikes.

✓Active wallets on top Ethereum NFT platforms have doubled to ~30,000 since February 2026, and tokenized trading card gacha spend is on track to hit an ATH of $211M this month.

✓Art critic Brian Droitcour identifies blockchain formalism and schizocollage as the two defining NFT art genres of the past few years, each with distinct relationships to Web3 infrastructure.

Author Takes

BullishMetaversal by Bankless

NFT market recovery

The NFT recovery question has shifted from 'is anything happening?' to 'how far will this go?' — the ground ahead seems firmer and more promising than it has in a while, with 30D breakouts, doubled wallet activity, and new verticals emerging.

More from Bankless

🏴 The Hyperliquid AI Stock Stack

Bankless covers Ondo's expansion of its bridge to move 35 tokenized stocks and ETFs onto HyperEVM via LayerZero, enabling DeFi strategies around AI ch

May 12

🏴 Crypto's Top Villain

Bankless covers North Korea's increasingly sophisticated crypto hacking operations and questions DeFi's ability to protect itself. The newsletter also

May 11

🏴 Airdrop Hunting on MegaETH

Bankless highlights airdrop opportunities on MegaETH, a high-speed L2 capable of 100k+ TPS with millisecond latency, featuring five tokenless protocol

May 7

AI Summary

Key Facts

Author Takes

Related topics

More from Bankless