In 2024, the NFT market recorded a sales volume of $8.8 billion, showing a slight increase of $100 million compared to the previous year. Ethereum and Bitcoin were the top blockchains for NFT sales, each generating $3.1 billion, while Solana ranked third with $1.4 billion in sales. Despite facing hurdles such as a seven-month downturn and reduced speculative interest, the market rebounded in the later months of the year, with December closing at $877 million in sales. Ethereum collections, particularly Pudgy Penguins, contributed significantly to the market. However, challenges like oversaturation persisted, with 98% of NFT collections experiencing minimal or no trading activity. The market is shifting towards more utility-driven applications, and 2025 will determine the sustainability of NFT growth.



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