The broader non-fungible token (NFT) market has defied expectations after it surpassed last year\u2019s revenue milestone.<\/p>\n
Data collected by CryptoSlam shows that with less than a week left before 2024 ends, NFT sales for the year have amounted to $8,717,920,832, edging out 2023\u2019s tally by about $230,000.<\/p>\n
Last year, the sector recorded<\/a> more than 91.55 million transactions, bringing in $8.71 billion per CryptoSlam. However, in 2024, the total transactions dropped significantly, only reaching 70.89 million.<\/p>\n Nonetheless, an increase in unique buyers and sellers helped balance the scales, with the former totaling 7.5 million and the latter reaching 4 million. These were the highest recorded figures since 2017, the closest being the 3.8 million sellers captured last year and the 5.4 million buyers from 2022.<\/p>\n There have long been discussions about the prospects of the NFT space, with the hype that once engulfed them dying down considerably. But analysts have urged<\/a> against writing off the industry altogether, a sentiment justified by the year\u2019s performance, which, while some ways below 2022\u2019s record-setting sales of $23.7 billion from 56 million transactions, has been markedly better than expected.<\/p>\n The next best period was 2021, when the sector raked in $15.7 billion from 34 million transactions involving 3.6 million unique sellers and over 5 million buyers. 2024\u2019s numbers are on course to be the third-highest returns on record, marginally beating last year\u2019s figures.<\/p>\n The space also recently suffered casualties when the Nike-owned RTFKT project announced it would\u00a0close<\/a>\u00a0shop<\/a> in 2025 after earning almost $50 million since its launch.<\/p>\n Looking more short-term, the last month presented a mixed outlook for NFTs. While global sales volumes went up 19.43% to $912 million, unique buyer and seller numbers fell by nearly 28%, reflecting a more selective market approach.<\/p>\n Additionally, transactions saw a 59.25% drop from the previous month, suggesting that fewer but more valuable exchanges may have driven the sector\u2019s growth.<\/p>\n Overall, Ethereum remains the top blockchain for NFT sales, contributing $495.7 million in the last 30 days alone. In second and third place were Bitcoin and Solana, which respectively generated $191.4 million and $107 million in that period.<\/p>\n Interestingly, the two blockchains went in completely opposite directions with regard to attracting buyers. CryptoSlam data shows that NFT purchasers on the Bitcoin network skyrocketed by more than 80% in the last month, while those on Solana dropped by at least 37%.<\/p>\n Immutable and Mythos rounded up the top five blockchains by monthly NFT sales volume. The former registered $35 million worth of sales, a 66.51% jump from the previous month, while the latter shed 36.72% from its tally in the same period, only reaching $25.4 million.<\/p>\n The post 2024 NFT Revenue Tops Last Year\u2019s $8B Mark<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The broader non-fungible token (NFT) market has defied expectations after it surpassed last year\u2019s revenue milestone. Data collected by CryptoSlam shows that with less than a week left before 2024 ends, NFT sales for the year have amounted to $8,717,920,832, edging out 2023\u2019s tally by about $230,000. The Numbers Last year, the sector recorded more […]<\/p>\n","protected":false},"author":0,"featured_media":31737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31736"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31736"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31737"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Monthly Insights<\/h2>\n