Digital Collectibles Surpass 2023 Sales by Over $100 Million
As the year comes to a close, non-fungible tokens (NFTs) have ended 2024 on a high note, with digital collectibles surpassing their 2023 sales by more than $100 million. According to NFT data tracker CryptoSlam, blockchain-based digital collectibles had a sales volume of $8.83 billion in 2024. This marked a significant increase from the previous year’s sales, which stood at around $8.7 billion.
Year-on-Year Increase
The surge in NFT sales in 2024 was a welcome surprise, considering that the space had suffered a seven-month downturn earlier this year. However, with the momentum gaining pace towards the end of 2024, digital collectibles showed signs of life. In October, the space saw $353 million in sales, an 18% increase from September. This momentum continued through November, with NFTs having a monthly sales volume of $562 million, marking a six-month high.
All-Time NFT Sales by Blockchains
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, which was a whopping 43.9% more than 2024’s record. In 2022, NFTs had a sales volume of $23.7 billion, which was 62.8% more than this year’s record.
Ethereum Remains the Top Blockchain for NFTs
Despite the lower volumes compared to previous years, Ethereum remains the top blockchain for NFTs in all-time sales, with a staggering $44.9 billion. Solana follows closely with $6.1 billion, while Bitcoin-based NFTs recorded $4.9 billion overall.
| Blockchain | All-Time Sales |
| — | — |
| Ethereum | $44.9 billion |
| Solana | $6.1 billion |
| Bitcoin | $4.9 billion |
Animoca Brands Chairman Sees Bright Future for NFTs
In an interview, Animoca Brands chairman Yat Siu expressed optimism about the future of NFTs. He predicted that as crypto markets grow, every Web3 component will follow suit. Siu also mentioned that he expects NFT trading volumes to exceed billions monthly as the broader crypto market soars.
Top NFT Collections in December
In December, Pudgy Penguins remained on top of the NFT charts, with a sales volume of $115 million. Other notable collections like Azuki, LilPudgys, CryptoPunks, Doodles, and Bored Ape Yacht Club collectively recorded a sales volume of $141 million for the month.
| NFT Collection | Sales Volume (Dec) |
| — | — |
| Pudgy Penguins | $115 million |
| Azuki, LilPudgys, CryptoPunks, Doodles, Bored Ape Yacht Club | $141 million |
| Bitcoin-based NFTs | $172 million |
| Solana-based collections | $100 million |
Conclusion
As the year comes to a close, it’s clear that NFTs have ended 2024 on a high note. Despite the lower volumes compared to previous years, Ethereum remains the top blockchain for NFTs in all-time sales. With the momentum gaining pace towards the end of 2024, digital collectibles showed signs of life. As the crypto market continues to grow, it’s exciting to think about what the future holds for NFTs.
What’s Next?
With the new year just around the corner, it will be interesting to see how NFT sales continue to evolve. Will we see a continued increase in sales volumes, or will the space take a downturn? Only time will tell, but one thing is certain – NFTs are here to stay.
Sources:
- CryptoSlam
- Animoca Brands
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