NFT sales increase in November, up +50% compared to October 2024

The non-fungible token market saw a remarkable resurgence in November, marked by a meteoric rise in sales volume and floor price values. The global NFT market has surpassed $500 million, fueled by a surge in interest following the recent re-election of Donald Trump in the United States, among other factors. During his campaign, His Excellency Trump promised to tame the volatile crypto market, pushing more investors into the NFT market.

NFT sales increase by 50% in November 2024

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregation platform designed to provide transparency to NFT collectibles across multiple blockchains and backed by prominent crypto billionaire Mark Cuban, shows that the global non-fungible token market has increased in volume. November. Over the past 30 days, the global NFT market attracted a sales volume of $562 million, an increase of 50% compared to October 2024.

In November 2024, the number of investors purchasing non-fungible token collections has also increased. Over the past 30 days, the global NFT market has seen 664,360 traders purchase NFTs. During this period, the number of investors who sold their NFTs also decreased this month to 429,014. These trading activities pushed transactions in the global NFT market above 5.4 million.

Ethereum, the blockchain network renowned in the NFT market for powering the majority of premium non-fungible token collections, continued to lead the NFT ecosystem this month. Over the past 30 days, Ethereum-based NFT collections have accumulated $220 million in commercial sales volume. During this period, Ethereum NFT sales jumped 14% compared to last month.

Bitcoin, the renowned blockchain network in the global NFT market for hosting Runes, Ordinals and BRC-20 NFTs, has grown significantly, becoming the second most traded NFT blockchain network in November 2024. Over the past 30 In recent days, Bitcoin-based NFT collections generated $188 million in sales volume, up 100.4% from last month.

Solana, an open source blockchain network that supports smart contracts including non-fungible tokens and various decentralized applications, was the third most traded blockchain network in the NFT market in November 2024. Over the past 30 days, the Solana-based NFT collections have accumulated a sales volume of $83 million. Meanwhile, Solana NFT commercial sales plunged 7.41% from last week.

Mythos Chain, a blockchain network designed to provide secure and efficient transactions in Mythical Games’ NFT ecosystem, was the fourth most traded blockchain network in the NFT market as of November 2024. Over the past 30 days, NFT collections based on Mythos Chain have garnered $25 million in commercial sales volume. Nonetheless, Mythos Chain NFT sales volume plunged 52% in November compared to October 2024.

Immutable 2024. Over the past 30 days, Immutable X-based NFTs saw $24 million in sales volume, up 51% from last month.

Five best-selling NFTs in November 2024

1.$ ?? BRC-20 NFT Collection

$??, a collection of non-fungible tokens created using Bitcoin’s creator’s theory of ordinals, a method used to inscribe unique, non-fungible tokens directly onto individual satoshis, the smallest unit of the Bitcoin network, has been the best-selling NFT collection. in November 2024. Over the last 30 days, the $ ?? The BRC-20 NFT collection recorded a commercial sales volume of $72 million. The $ ?? Commercial sales of BRC-20 NFTs jumped 1,730% in November compared to October 2024.

Source: cryptoslam.io, best-selling NFTs in the last 30 days

2. CryptoPunks NFT Collection

CryptoPunks, a collection of non-fungible tokens comprising a fixed supply of 10,000 pixelated NFTs previously created by Larva Labs and now managed by Bored Ape NFT creator Yuga Labs, was the best-selling NFT collection in November. Over the past 30 days, the CryptoPunks NFT collection has seen $49 million in commercial sales volume. During this period, CryptoPunks NFT sales volume jumped 388% compared to last month.

3. DMarket NFT Collection

DMarket is an NFT collection from DMarket, an NFT and in-game virtual item trading marketplace built on the Mythos blockchain, representing in-game virtual items from popular online games like Counter-Strike and Dota 2, was the third no longer sold. NFT collection in November. Over the past 30 days, the DMarket NFT collection has seen $24 million in commercial sales volume. DMarket NFT sales volume plunged 33% from last month.

4. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, an NFT collection from digital asset incubation company Yuga Labs that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, was the fourth best-selling NFT collection in November. Over the past 30 days, the Bored Ape Yacht Club NFT collection has generated $22 million in commercial sales volume. During this period, the sales volume of the Bored Ape Yacht Club NFT jumped 114% compared to last month.

5. Guardians Guild NFT Collection

The Guild of Guardians, a collection of non-fungible tokens from Guild of Guardians, a renowned NFT role-playing game that allows players to take teams of heroes through challenging dungeons to collect tradable resources, was the fifth NFT collection best-selling in November. 2024. Over the past 30 days, the Guardians Guild has accumulated $19 million in trade sales volume. During this period, Guardian Guild NFT commercial sales jumped 44% compared to last month.

The NFT market forecast for December 2024

The NFT market has struggled to regain the momentum it saw at the height of the crypto boom in 2021. Oversupply, high gas fees on the Ethereum network, and lack of a regulatory framework appropriate contributed to a decline in trade volumes and prices. Now that crypto-friendly Trump has taken office, NFT regulations are expected to get a new look and fuel NFT adoption. This move will drive FUD lower and fuel the next NFT bull run.

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