The world of digital collectibles has been making waves in recent months, and the latest data suggests that non-fungible tokens (NFTs) are maintaining their momentum. According to a report by CryptoSlam, NFT sales surged by 57.8% in November, reaching a staggering $562 million in sales volume.
Recovery in Progress
This significant increase in sales volume is a testament to the resilience of the NFT market. Despite experiencing a slump earlier this year, digital collectibles seem to be recovering well. The data indicates that November’s monthly sales volume for NFTs is the highest since May, when they reached $599 million.
Monthly Sales Volume from May to December 2024
| Month | Sales Volume (USD) |
| — | — |
| May | $599 million |
| June | $444 million |
| July | $373 million |
| August | $324 million |
| September | $283 million |
| October | $256 million |
| November | $562 million |
A Glimpse into the Past
To put things into perspective, it’s essential to look back at the sales volumes of the past few months. In March, NFT sales reached a yearly high of $1.6 billion. However, this was followed by a seven-month slump, with each month’s sales volume decreasing until it reached its lowest point since 2021.
CryptoPunks Floor Price Surges
As the broader crypto markets surged, popular NFT collection CryptoPunks also recorded an impressive performance in November. According to DefiLlama, the NFT collection had a floor price of 26.3 Ether (ETH) on Nov. 1. By Nov. 30, CryptoPunks’ floor price had risen to 39.7 ETH, worth about $147,000 at current market prices.
CryptoPunks Floor Price Data from September to November
| Date | Floor Price (ETH) |
| — | — |
| Sep 1 | 22.5 ETH |
| Oct 1 | 24.8 ETH |
| Nov 1 | 26.3 ETH |
| Nov 30 | 39.7 ETH |
CryptoPunks Sales Volume
CryptoSlam data also showed that CryptoPunks had a 30-day sales volume of more than $49 million, a 392% increase compared to the previous month. The collection also recorded 388 sales transactions, 213% more than in October.
Other Notable NFT Collections
Apart from CryptoPunks, another notable NFT collection that performed exceptionally well in November is Pudgy Penguins. The collection’s monthly sales volume surged by 262% month-on-month, with $16 million in volume.
Pudgy Penguins Floor Price Data from September to November
| Date | Floor Price (ETH) |
| — | — |
| Sep 1 | 7.2 ETH |
| Oct 1 | 9.5 ETH |
| Nov 1 | 8.7 ETH |
| Nov 30 | 13 ETH |
The Rise of Ethereum and Bitcoin
In terms of percentages, Bitcoin recorded the highest increase among the top blockchains for NFTs. The network had $186 million in sales volume, a 99.44% surge from October.
Blockchains with Notable Sales Volumes
| Blockchain | Sales Volume (USD) |
| — | — |
| Ethereum | $216 million |
| Bitcoin | $186 million |
| Solana | $13.5 million |
| Mythos Chain | $10.4 million |
| Immutable | $8.2 million |
| Polygon | $7.3 million |
| BNB Chain | $6.9 million |
The Future of NFTs
As the world of digital collectibles continues to evolve, it’s essential to keep a close eye on market trends and emerging artists. With NFT sales surging by 57.8% in November, it’s clear that this space is here to stay.
Sources:
- CryptoSlam
- DefiLlama
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