Non-fungible tokens (NFTs) are closing out 2024 on a excessive observe, surpassing $100 million extra in gross sales than in 2023. The expansion underscores renewed curiosity in digital collectibles.
In keeping with information printed on December 31 by CryptoSlam, a number one NFT analytics platform, blockchain-based NFTs reached a complete gross sales quantity of $8.83 billion in 2024. This marks a slight however vital enhance from $8.7 billion in 2023, representing a 1.1% year-over-year rise.
Ethereum and Bitcoin Tie in 2024 NFT Gross sales
In 2024, Ethereum and Bitcoin went head-to-head when it comes to NFT buying and selling quantity, with every blockchain producing round $3.1 billion in gross sales. Solana adopted in third place, posting a complete gross sales quantity of $1.4 billion.
On the subject of all-time NFT gross sales, Ethereum stays the undisputed chief with a cumulative quantity of $44.9 billion. Solana ranks second with $6.1 billion, whereas Bitcoin NFTs have reached a complete of $4.9 billion.
2024 Nonetheless Trails Behind the NFT Growth Years
Regardless of the optimistic efficiency in 2024, NFT gross sales stay far under the heights of the 2021–2022 growth. In 2021, NFTs reached a record-breaking $15.7 billion in annual gross sales—43.9% greater than 2024’s whole. In 2022, the market hit $23.7 billion, which is 62.8% greater than this 12 months’s consequence.
Optimism from Business Leaders
Yat Siu, Chairman of Animoca Manufacturers, expressed optimism regardless of the decrease volumes in comparison with earlier years. He believes NFTs might ultimately outperform their earlier peak years.
“Because the broader crypto market grows, each element of Web3 will comply with,” mentioned Siu. He predicts that NFT buying and selling volumes might exceed billions per thirty days because the digital asset ecosystem continues to broaden.
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