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The general crypto market, spearheaded by the flagship crypto assets Bitcoin and Ethereum, has seen a meteoric rise in 2024. In tandem with the recent crypto market increase, the sales volume of non-fungible tokens surged by 96 percent from the previous quarter. In Q4, 2024, the NFT sales volume surged to over $2.2 billion, a 96% increase from the $1.12 billion in Q3, 2024.
Data compiled by Tiexo.com, an on-chain non-fungible token collection explorer and an analytic hub, shows that the global non-fungible token market has surged again in sales in Q4, 2024. In the past 90 days, the global NFT market has attracted a trading sales volume of over $2.2 billion, representing a 96% surge from the previous quarter. The NFT market has risen nearly two-fold on quarter-over-quarter.
NFT Market Health In 2024
The non-fungible token market has been a roller coaster in 2024. It started the year 2024 healthy, reaching $4.1 billion in Q1, 2024. In February 2024, the NFT sales climbed to just over $1.290 billion, a 3.6% increase from January’s $1.245 billion. In March, the NFT sales jumped further to $1.605 billion, up 19.6% from February’s $1.290 billion. Sadly, the NFT sales began tanking after the BRC-20 and Runes NFTs, which fueled a resurgence in November 2023, lost traction.
In April 2024, the NFT market suffered another blow, with its trading sales volume flipping to $1.2 billion, down around $205 million from the previous month. In May 2024, the NFT market further melted escalated, leaving the trading sales volume down nearly half to $599 million. In June 2024, the NFT meltdown further deteriorated, pushing trading sale volume to $436 million.
The global NFT market has since suffered a month-over-month decline, declining to $428 million in July 2024. In August 2024, the global NFT market further went down, recording a trading sales volume of $393 million. Cumulatively, the NFT market amassed a trading sales volume of $1.12 billion in Q3, 2024. In September 2024, the NFT trading sales volume further declined to only $303 million.
Fortunately, the global NFT market began skyrocketing again in November 2024, with trading sales volume pumping to over $563 million. This NFT resurgence was fueled by the recent re-election of Donald J Trump as the 47th United States President. During his campaign, Donald Trump promised to offer an ample environment for crypto users, consequently bringing more users back to the crypto and NFT market. This confidence has pushed NFT trading sales volume up to nearly $1 billion in December and over $2.2 billion in Q4, 2024.
Source: cryptoslam.io, NFT sales volume by months in Q4,2024
Top NFT Marketplaces In Q4, 2024
Blur, a renowned non-fungible token marketplace and aggregator platform offering advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons, has been the leading NFT marketplace in Q4, 2024. In the past 90 days, the NFT marketplace has amassed a trading sales volume of $903 million, representing 40% of the total market share.
Source: Tiexo.com, Top NFT marketplace in Q4,2024
OpenSea, one of the world-largest web3 marketplaces for non-fungible tokens and crypto collectibles, has been the second most-traded NFT marketplace in Q4, 2024. In the past 90 days, the OpenSea NFT marketplace has recorded a trading sales volume of $622 million, taking 28% of the total market share. During this time, the Ethereum NFTs took the lion’s share, amassing 65% of the total trading sales.
Magic Eden, another leading multi-chain digital market platform supporting non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin, has been the third leading NFT marketplace in Q4, 2024. In the past 90 days, the Magic Eden NFT marketplace has raised a trading sales volume of $374 million. During this period, the Bitcoin Ordinals NFTs took the largest share, accumulating 71% of the total trading sales volume.
Tensor, a renowned non-fungible token marketplace that provides users with a smooth, fast, and secure NFT trading platform, has been the fourth leading NFT marketplace in Q4, 2024. In the past 90 days, the Tensor NFT marketplace has raised a trading sales volume of $134 million, taking 6.07% of the total market share. During this time, the Solana-based NFTs have taken all the 100% of the total sales volume.
Lastly, CryptoPunks, a renowned NFT marketplace dedicated exclusively to the iconic 10,000 CryptoPunks NFT collection, has been the fifth leading NFT market platform in Q4, 2024. In the past 90 days, the CryptoPunks NFT marketplace has recorded a trading sales volume of $88 million, taking 4.07% of the total market share. All the five top leading NFT marketplaces have risen to over $2.2 billion in sales volume in Q4, 2024.
Five Top-Selling NFT Collections In Q4, 2024
Pudgy Penguins, a non-fungible token collection from the digital asset firm Igloo that features a fixed edition of 8,888 NFTs hosted on the Ethereum blockchain network, has been the top-selling NFT collection in Q4, 2024. In the past 90 days, the Pudgy Penguins NFT collection has recorded a trading sales volume of $313 million. During this time, the Pudgy Penguins NFT sale volume has surged by 423% from the previous quarter.
Lil Pudgy, another non-fungible token collection from the digital asset firm Igloo Inc. featuring a fixed edition of 22,222 NFTs hosted on the Ethereum blockchain network, has been the second most-selling NFT collection in Q4, 2024. In the past 90 days, the Lil Pudgy NFT collection has amassed a trading sales volume of $124 million, representing an 855% surge from the previous quarter.
Source: Tiexo.com, Top selling NFT collections in Q4,2024.
Blue-chip Azuki, a non-fungible token collection from the digital asset incubation studio Chiru Labs featuring a limited set of 10,000 NFTs hosted on the Ethereum blockchain network, has been the third most-selling NFT collection in Q4, 2024. In the past 90 days, the Azuki NFT collection has attracted a trading sales volume of $114 million, representing a 401% surge from the past quarter.
Bored Ape Yacht Club, a non-fungible token collection from the digital asset firm Yuga Labs featuring a limited edition of 10,000 NFTs hosted on the Ethereum blockchain network, has been the fourth most-selling NFT collection in Q4, 2024. In the past 90 days, the Bored Ape Yacht Club NFT collection has amassed a trading sales volume of $98 million, representing a 70% surge from the past quarter.
CryptoPunks, a non-fungible token collection featuring a limited set of 10,000 Ethereum-based NFTs previously from Larva Labs but now managed by the Bored Ape creator Yuga Labs, has been the fifth most-selling NFT collection in Q4, 2024. In the past 90 days, the CryptoPunks NFT collection has recorded a trading sales volume of $85 million, representing a 64% surge from the past quarter.
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