• The NFT market recorded $8.83 billion in sales for 2024, a 1.1% increase over 2023.
• NFTs are enabling secure, transparent authentication for real estate, luxury goods, and automobiles.

The NFT market ended 2024 with a total sales volume of $8.83 billion, marking a 1.1% growth from 2023’s $8.7 billion. Despite this modest increase, the market remains far below the highs of 2021 and 2022.

Ethereum [ETH] and Bitcoin [BTC] each led the market, registering $3.1 billion in sales, while Solana [SOL] followed with $1.4 billion, securing third place among blockchain platforms.

Though the year reflected steady recovery, sales in 2024 were 43.9% lower than 2021 and 62.8% below 2022.

These declines illustrate the challenges faced by the NFT market amid fluctuating interest and changing economic conditions. Still, the steady end to 2024 signals resilience and a path forward for digital collectibles.

December drives recovery

The final quarter of 2024 brought hope to the NFT space, particularly with a December sales figure of $877 million. This marked the fifth-highest monthly sales total for the year, building on October and November’s momentum.

October saw an 18% increase in sales, reaching $353 million, followed by a six-month high of $562 million in November.

Ethereum-based collections dominated December’s performance, contributing $482 million to the monthly total. Go to Source to See Full Article
Author: Maxwell Mutuma