According to CryptoSlam, total NFT sales in 2024 reached $8.83 billion, edging out 2023 by over $100 million. While the 1.1% growth might seem modest, it underscores the market’s resilience after experiencing months of declining sales earlier in the year.

The last quarter of 2024 proved pivotal for the market’s recovery. Sales nearly doubled from Q3’s $1.12 billion to $2.2 billion in Q4, marking a 96% surge. November’s $562 million in sales laid the groundwork for December’s standout performance.

December’s sales boom was largely driven by Ethereum-based NFT collections, which accounted for $488.4 million of the month’s total. Collections like Pudgy Penguins, Azuki, and Bored Ape Yacht Club led the charge.

Pudgy Penguins emerged as the top performer, generating over $285 million in trading volume. Other related collections, such as Lil Pudgys and Azuki, contributed an additional $222 million combined, cementing Ethereum NFTs as the market’s driving force.

The NFT market’s strong finish in 2024 reflects renewed interest and innovation within the space. Despite a challenging third quarter, the last three months demonstrated the industry’s ability to adapt and recover, driven by high-profile collections and increasing utility for NFTs across gaming, art, and digital identity.

The near-billion-dollar December performance not only signals renewed confidence in NFTs but also sets the stage for a promising start to 2025.

With the NFT market showing signs of sustained recovery, the question remains: will this momentum continue into the new year?

For now, the resurgence in NFT sales is a testament to the market’s capacity for reinvention and resilience, closing out 2024 with a bang.