Non-fungible tokens (NFTs) are ending the year on a high, with digital collectibles surpassing their 2023 sales by more than $100 million.
On Dec. 31, NFT data tracker CryptoSlam showed that blockchain-based digital collectibles had a sales volume of $8.83 billion in 2024. That surpassed 2023 NFT sales by over $100 million, as NFTs had about $8.7 billion in sales last year. It marked a 1.1% year-on-year increase.
In 2024, Ethereum and Bitcoin went toe-to-toe in sales volumes, with both blockchains recording $3.1 billion in NFT sales. Solana took the third spot with a total sales volume of $1.4 billion.
Ethereum remains the top blockchain for NFTs in all-time sales, with $44.9 billion. Solana follows with $6.1 billion, while Bitcoin-based NFTs recorded $4.9 billion overall.
All-time NFT sales by blockchains. Source: CryptoSlam
While this year had an increase in NFT sales, 2024 was still far off its 2021–2022 sales volumes. In 2021, NFTs ended the year with $15.7 billion in sales, 43.9% more than 2024’s record. In 2022, NFTs had a sales volume of $23.7 billion, 62.8% more than this year’s record.
Despite the lower volumes compared to previous years, Animoca Brands chairman Yat Siu said NFTs may someday perform better than those peak years. Siu said that as crypto markets grow, every Web3 component will follow. The executive predicted that NFT trading volumes could exceed billions monthly as the broader crypto market soars.
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NFT sales uptick in the fourth quarter of 2024
NFT sales increasing toward the end of 2024 may have been an unexpected twist. Digital collectibles suffered a seven-month downturn during the year, with September reaching the lowest sales volumes the space had seen since 2021.
Despite this, digital collectibles showed signs of life in October, when the space saw $353 million in sales, an 18% increase from September. The momentum continued through November as NFTs had a monthly sales volume of $562 million, marking a six-month high.
In December, NFTs had a sales volume of $877 million, its fifth-highest performing month in 2024. The uptick in December was driven by increased sales in Ethereum-based collections, with the blockchain having a monthly NFT sales volume of $482 million.
Top NFT collections in December. Source: CryptoSlam
Pudgy Penguins remained on top of the NFT charts, with a sales volume of $115 million. Other NFT collections like Azuki, LilPudgys, CryptoPunks, Doodles and Bored Ape Yacht Club collectively recorded a sales volume of $141 million for the month.
Bitcoin-based NFTs recorded a sales volume of $172 million, while Solana-based collections had a $100 million sales volume in December.
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