NFTs Record $8.8B Sales Volume in 2024 — CryptoSlam
NFT sales have ended 2024 on a positive note, surpassing the previous year’s sales by more than $100 million, according to CryptoSlam. Blockchain-based digital collectibles achieved a total sales volume of $8.83 billion in 2024, representing a 1.1% year-on-year increase compared to 2023, which recorded $8.7 billion in sales.
Key Highlights:
2024 NFT Sales: The total sales volume for NFTs in 2024 reached $8.83 billion, exceeding 2023’s performance by $100 million.
Blockchain Comparison: Ethereum and Bitcoin were tied in sales volumes, each recording $3.1 billion in NFT sales. Solana followed with $1.4 billion in sales.
Top Blockchains: Ethereum continues to lead the all-time NFT sales with $44.9 billion, followed by Solana with $6.1 billion, and Bitcoin-based NFTs, which recorded $4.9 billion.
Performance Comparison:
Despite the increase in sales from the previous year, 2024 still lagged behind the peak years of 2021 and 2022. In 2021, NFT sales reached $15.7 billion, and in 2022, they totaled $23.7 billion, both significantly higher than 2024’s total sales.
Future Outlook:
Animoca Brands chairman Yat Siu expressed optimism about the future of NFTs, stating that as crypto markets grow, NFT performance could surpass even the record sales of previous years. Siu predicts that NFT trading volumes could eventually reach billions monthly as the broader Web3 ecosystem expands.
NFT Sales in Q4 2024:
Despite a seven-month downturn earlier in the year, the NFT market showed strong recovery in the fourth quarter of 2024. October saw a 18% increase in sales, and November recorded $562 million in sales, a six-month high. December continued this upward trend, with a sales volume of $877 million, marking it as the fifth-highest performing month of the year.
Ethereum-Based Collections: Ethereum-based NFTs contributed significantly to the December surge, with $482 million in sales.
Top NFT Collections: Pudgy Penguins led the charts with $115 million in sales, while other collections like Azuki, CryptoPunks, and Bored Ape Yacht Club contributed to $141 million in collective sales for the month.
Bitcoin and Solana NFT Performance:
Bitcoin-based NFTs saw a notable $172 million in sales in December, while Solana-based collections reached $100 million in sales.
Overall, while 2024’s NFT market did not reach the heights of previous years, the recovery in the second half of the year and the growing interest in NFTs, especially from Ethereum-based collections, sets a positive tone for the future of digital collectibles in the crypto space.
