rewrite this title NFTs Reach Record $8.8 Billion in Sales Volume in 2024 – Metaverseplanet.net

Non-fungible tokens (NFTs) are closing out 2024 on a high note, surpassing $100 million more in sales than in 2023. The growth underscores renewed interest in digital collectibles.

According to data published on December 31 by CryptoSlam, a leading NFT analytics platform, blockchain-based NFTs reached a total sales volume of $8.83 billion in 2024. This marks a slight but significant increase from $8.7 billion in 2023, representing a 1.1% year-over-year rise.

Ethereum and Bitcoin Tie in 2024 NFT Sales

In 2024, Ethereum and Bitcoin went head-to-head in terms of NFT trading volume, with each blockchain generating around $3.1 billion in sales. Solana followed in third place, posting a total sales volume of $1.4 billion.

When it comes to all-time NFT sales, Ethereum remains the undisputed leader with a cumulative volume of $44.9 billion. Solana ranks second with $6.1 billion, while Bitcoin NFTs have reached a total of $4.9 billion.

2024 Still Trails Behind the NFT Boom Years

Despite the positive performance in 2024, NFT sales remain far below the heights of the 2021–2022 boom. In 2021, NFTs reached a record-breaking $15.7 billion in annual sales—43.9% more than 2024’s total. In 2022, the market hit $23.7 billion, which is 62.8% higher than this year’s result.

Optimism from Industry Leaders

Yat Siu, Chairman of Animoca Brands, expressed optimism despite the lower volumes compared to previous years. He believes NFTs could eventually outperform their earlier peak years.

“As the broader crypto market grows, every component of Web3 will follow,” said Siu. He predicts that NFT trading volumes could exceed billions per month as the digital asset ecosystem continues to expand.

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