NFT Market Surges Past 2023 Totals, Ends 2024 at $8.83B in Sales

NFTs have finished 2024 on an upswing, crossing $8.83 billion in sales—slightly higher than the $8.7 billion recorded last year, based on CryptoSlam data.

Although this marks a modest 1.1% increase year over year, the market remains below the peaks reached in 2021 and 2022, which saw $15.7 billion and $23.7 billion respectively.

Ethereum and Bitcoin dominated the scene in 2024, each amassing $3.1 billion in NFT sales, followed by Solana at $1.4 billion. Over their entire history, Ethereum-based NFTs still lead the pack with $44.9 billion in sales, while Solana and Bitcoin claim $6.1 billion and $4.9 billion, respectively.

NFT trading remained sluggish for much of the year until a notable resurgence in the final quarter. October witnessed an 18% jump from September’s lows, and momentum continued into November and December. By December, monthly sales topped $877 million, buoyed by Ethereum-based collections surpassing $482 million.

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Pudgy Penguins led the charge with $115 million, while Azuki, LilPudgys, CryptoPunks, Doodles, and Bored Ape Yacht Club collectively added another $141 million. Meanwhile, Bitcoin NFTs accounted for $172 million in December, with Solana notching $100 million.

Despite current figures lagging behind previous highs, some industry leaders predict that, as the broader crypto market expands, NFTs could eventually see monthly sales running into the billions.

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