The year 2024 started with a bearish sentiment for NFTs, but the market saw a late-year resurgence. Pudgy Penguins, a struggling collection, experienced a revitalization and reached new all-time highs. NFT marketplaces like Magic Eden, Blur, and OpenSea battled for dominance, driving innovation. Bitcoin Ordinals gained traction due to infrastructure upgrades and growing adoption, with standout projects like Bitcoin Puppets and NodeMonkes leading the way. OpenSea, Magic Eden, and Blur shaped the NFT marketplace narrative in distinct ways. Major brands like Nike and Starbucks retreated from the NFT space, but McDonald's collaborated with NFT collection Doodles for a holiday campaign. The rise of tokenization and optimistic U.S. regulatory landscape put token launches in the limelight, with projects like Pudgy Penguins, Memeland, Milady, and Mocaverse launching tokens. This tokenization trend is expected to continue in 2025 with projects like Azuki and Yuga Labs.



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