03/01/2025 NFT comeback pushes 2024 volume to $8.8B: Nifty Newsletter

NFTs had a total sales volume of $8.8 billion in 2024, surpassing their record in 2023 by over $100 million.

NFT comeback pushes 2024 volume to $8.8B: Nifty Newsletter

NFTs had a total sales volume of $8.8 billion in 2024, surpassing their record in 2023 by over $100 million.

In this week’s newsletter, read hownon-fungible tokens (NFTs)in 2024 surpassed their 2023 sales record by $100 million, proving that blockchain-based digital collectibles are not dead. Check out how Runes, once a dominant protocol in the Bitcoin blockchain, had a decline in transaction share in December. And don’t forget to read the New Year Special, which provides a recap of what happened with NFTs in 2024.

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NFTs record $8.8B sales volume in 2024 — CryptoSlam

While NFTs had a slow year, the overall sales volume for the asset class in 2024 reached $8.8 billion. The amount recorded by digital collectibles surpassed 2023 by $100 million, marking a 1.1% increase year-on-year.

Ethereum and Bitcoin were on top of the NFT game, with both blockchains having $3.1 billion in sales for the year. The third-biggest blockchain in 2024 was Solana, which recorded a sales volume of $1.4 billion.

Despite this, Ethereum still leads the pack in all-time sales, with its $44.9 billion record. Meanwhile, Solana’s all-time sales are around $6.1 billion, while Bitcoin-based NFTs recorded $4.9 billion overall.

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Bitcoin Runes loses momentum by 2024 end

Transactions on the Runes protocol on Bitcoin dropped significantly in December, with its transaction count struggling.

On April 23, Runes had over 753,000 transactions, surpassing the Ordinals protocol, BRC-20s and Bitcoin transactions. The record gave runes over 80% of all Bitcoin-based transactions.

However, in December, the protocol’s transaction share fell hard. Apart from Christmas Day, when the protocol had a 19.9% share in Bitcoin transactions, the rest of December showed an average share of 9%, reflecting a decrease in investor interest in Runes-based Bitcoin NFTs.

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NFTs in 2024: Surviving challenges, embracing growth, eyeing the future

NFTs continued to exist in 2024 despite challenges that gave holders a tough time. While some declared NFTs dead, the trading volume for digital collectibles proved that they are very much alive. While the asset class survived, it faced various challenges, from regulatory hurdles to a seven-month downturn.

Animoca Brands Chairman Yat Siu and OKX’s global chief commercial officer Lennix Lai shared their 2025 NFT market predictions with Cointelegraph.

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Arts

https://cointelegraph.com/news/nft-comeback-pushes-2024-volume-to-8-8-b-nifty-newsletter

Interesting NFTs
CryptoKitties
Ugh! I'm Kitty #355691. I've never told anyone this, but I once bit a dog. It's not common knowledge, but my ancestry connects me to Marie Antoinette. Will you be the peanut butter to my wasabi?
Classical Collage
voronoi fun with some well known art
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
#97242
By OthersideDeployer
Bored Ape Yacht Club #9361
The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation.