NFTs Record Over $8.8 Billion in Sales Volume in 2024, According to CryptoSlam Data

February 24, 2025 EquityExplained

As the year comes to a close, non-fungible tokens (NFTs) are ending 2024 on a high note. According to data from CryptoSlam, digital collectibles have surpassed their 2023 sales by more than $100 million, with a total sales volume of $8.83 billion.

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2024 NFT Sales Volume: A Year-Over-Year Comparison

In comparison to the previous year, 2023 saw NFT sales reach around $8.7 billion. This represents a significant increase, with 2024’s sales volume surpassing that of 2023 by over $100 million. In fact, this marks a 1.1% year-on-year increase in NFT sales.

Blockchain Performance: A Breakdown

When it comes to the performance of different blockchains, Ethereum and Bitcoin went toe-to-toe in terms of sales volumes. Both blockchains recorded around $3.1 billion in NFT sales, making them the top-performing platforms in 2024.

However, when looking at all-time sales figures, Ethereum remains the clear leader, with a total sales volume of $44.9 billion. Solana follows closely behind, with $6.1 billion in total sales, while Bitcoin-based NFTs have recorded around $4.9 billion overall.

All-Time NFT Sales by Blockchain

Looking Ahead: A Bright Future for NFTs?

Despite the lower volumes compared to previous years, Animoca Brands chairman Yat Siu believes that NFTs may one day perform better than their peak years. In an interview, Siu stated that as crypto markets grow, every Web3 component will follow.

He further predicted that NFT trading volumes could exceed billions monthly as the broader crypto market soars. This optimism is certainly warranted, given the recent uptick in NFT sales and the growing adoption of digital collectibles.

NFT Sales: A Year-Round Analysis

While 2024 saw a significant increase in NFT sales, it’s worth noting that this year was still far off its peak years. In 2021, NFTs ended the year with $15.7 billion in sales, representing a 43.9% increase over 2024’s record.

The following year, 2022, saw an even higher sales volume of $23.7 billion, which is 62.8% more than this year’s record. Despite these figures, it’s clear that NFTs are still on the rise and have a bright future ahead.

A Closer Look at December NFT Sales

December proved to be a particularly strong month for NFT sales, with digital collectibles reaching their fifth-highest performing month of the year. The uptick in December was driven by increased sales in Ethereum-based collections, which recorded a monthly sales volume of $482 million.

Top NFT Collections in December

Bitcoin-Based NFTs and Solana Collections

Bitcoin-based NFTs recorded a sales volume of $172 million in December, while Solana-based collections had a sales volume of $100 million. These figures demonstrate the continued growth and adoption of digital collectibles across different blockchains.

Conclusion: A Bright Future for NFTs?

As we look ahead to the new year, it’s clear that NFTs have ended 2024 on a high note. With sales surpassing $8.83 billion and an uptick in December, there’s no denying the continued growth and adoption of digital collectibles.

While this year saw lower volumes compared to peak years, Animoca Brands chairman Yat Siu remains optimistic about the future of NFTs. As crypto markets grow, it’s likely that every Web3 component will follow, including NFT trading volumes which could exceed billions monthly.

As we continue to monitor the evolution of digital collectibles, one thing is certain: NFTs are here to stay and will only continue to grow in popularity as the broader crypto market soars.