{"id":32539,"date":"2025-01-01T10:06:51","date_gmt":"2025-01-01T10:06:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=32539"},"modified":"2025-01-01T10:06:51","modified_gmt":"2025-01-01T10:06:51","slug":"nft-sales-surge-past-8-8-billion-in-2024-exceeding-2023-by-100-million","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=32539","title":{"rendered":"NFT Sales Surge Past $8.8 Billion in 2024, Exceeding 2023 by $100 Million"},"content":{"rendered":"

Non-fungible<\/span> tokens (NFTs) closed 2024 on a strong note, with annual sales surpassing $8.83 billion<\/span>, according to <\/span>data from CryptoSlam<\/span><\/a>.<\/span> This marks a 1.1% increase over the $8.7 billion recorded in 2023, suggesting a modest but notable recovery for the digital collectibles market.<\/span><\/p>\n

Ethereum and Bitcoin led the charge in 2024, <\/span>each<\/span> registering $3.1 billion in NFT sales, while Solana secured third place with $1.4 billion in annual sales. <\/span><\/p>\n

Ethereum remains the leader in all-time NFT sales, boasting $44.9 billion, <\/span>followed by<\/span> Solana at $6.1 billion and Bitcoin-based NFTs <\/span>with<\/span> $4.9 billion.<\/span><\/p>\n

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2024\u2019s Sales Volumes Were Far Cry From Peak Years<\/span><\/h2>\n

Despite the positive growth compared to 2023, 2024\u2019s sales volumes were a far cry from the market\u2019s peak years. In 2021, NFTs generated $15.7 billion in sales, while 2022 saw a staggering $23.7 billion. The 2024 figures represent a decline of 43.9% and 62.8%, respectively, compared to those years.<\/span><\/p>\n

The rebound in NFT sales toward the end of the year caught many by surprise. Following a seven-month downturn that culminated in September\u2019s lowest sales volumes since 2021, the market began to recover.<\/span><\/p>\n

October saw an 18% increase in sales, reaching $353 million<\/span>, and the<\/span> momentum continued in November with a six-month high of $562 million.<\/span> December capped off the year with $877 million in NFT sales, the fifth-highest monthly figure for 2024. <\/span><\/p>\n

NFT’s overview: <\/p>\n

Market Volume: 2024\u2019s NFT market saw total sales reach $8.5 billion; The number of unique buyers swelled from 4.6 million in 2023 to 7.5 million in 2024, marking a substantial 62% increase. <\/p>\n

\u2014 Rui (@OITOO) December 28, 2024<\/a><\/p>\n\n

The resurgence was driven by Ethereum-based collections, which accounted for $482 million of the month\u2019s sales. Bitcoin-based NFTs contributed $172 million, while Solana-based collections added $100 million.<\/span><\/p>\n

Among the top-performing collections, Pudgy Penguins dominated with $115 million in sales for December. Other notable collections, including Azuki, LilPudgys, CryptoPunks, Doodles, and Bored Ape Yacht Club, collectively brought in $141 million.<\/span><\/p>\n

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NFT Brand RTFKT To Cease Operations By January 2025<\/span><\/h2>\n

Despite the recent rebound in NFT sales, <\/span>there has been a trend of companies<\/span> discontinuing their involvement in the NFT space.<\/span><\/p>\n

In December, RTFKT, the NFT brand behind virtual sneakers and digital collectibles acquired by Nike in 2021, <\/span>announced it would shut down<\/span><\/a> operations in January 2025.<\/span><\/p>\n

Before its closure, RTFKT plans to release one final collection, \u201cBLADE DROP,\u201d which it describes as a testament to its boundary-pushing approach and role in merging technology with culture.<\/span><\/p>\n

Before<\/span> that, crypto exchange Kraken <\/span>announced the closure of its NFT marketplace<\/span><\/a> nearly two years after its launch. The company said it aims to allocate resources toward new products and services.<\/span><\/p>\n

\u201cClients have been informed of the changes, and our team will support them as they move their NFTs to their Kraken Wallet or a self-custodial wallet of choice,\u201d a Kraken spokesperson said.<\/span><\/p>\n

Starbucks, the renowned multinational coffee chain, has also <\/span>decided<\/span> to terminate its NFT rewards program. Moreover, gaming retailer GameStop has announced the closure of its NFT marketplace after scaling back its crypto services over the past two years.<\/span><\/p>\n

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Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n

The post NFT Sales Surge Past $8.8 Billion in 2024, Exceeding 2023 by $100 Million<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Non-fungible tokens (NFTs) closed 2024 on a strong note, with annual sales surpassing $8.83 billion, according to data from CryptoSlam. This marks a 1.1% increase over the $8.7 billion recorded in 2023, suggesting a modest but notable recovery for the digital collectibles market. Ethereum and Bitcoin led the charge in 2024, each registering $3.1 billion […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-32539","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32539"}],"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=32539"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32539\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}