December 2024 saw a resurgence in the NFT market, with sales reaching $877 million, making it the second-best month of the year. The overall NFT sales for the year amounted to $8.83 billion, surpassing the previous year by over $100 million. Ethereum-based collections like Pudgy Penguins, Azuki, and Bored Ape Yacht Club contributed significantly to the December sales. Nicolás Lallement, co-founder of NFT Price Floor, attributed the market's rebound to the introduction of meme/L2 gov tokens and a shift towards long-term conviction plays. While NFT sales in 2024 still fell short of the peak years of 2021 and 2022, industry experts suggest growing confidence in the crypto market and rising token prices contributed to the rally. Top marketplaces in Q4 were Blur and OpenSea, with Ethereum, Solana, and Bitcoin gradually gaining market share. The future of the NFT market remains uncertain, with analysts predicting its performance will be influenced by Bitcoin's rally in mid-2025.



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