- NFTs sales volume neared $9 billion in 2024 surpassing 2023 levels
- Ethereum-based NFTs accounted for most of the volume
- 2024’s sales volume is lower than the 2022 highs
NFTs sales volume reached $8.84 billion in 2024 surpassing 2023 levels of $8.71 billion but much lower than the $23.77 billion recorded in 2022. Ethereum-based NFTs accounted for most of the volume, with Bitcoin and Solana taking second and third places, respectively. The all-time sales volume stands at slightly above $68 billion, signaling continued growth in the collectibles market.
Wash NFT Trading Volume Was Lower in 2024
According to CryptoSlam, the number of unique NFT buyers and sellers in 2024 was the highest, reaching over 7.5 million and more than 4 million, respectively. To put it into perspective, 2023 had slightly over 4.5 million unique buyers and 3.8 million unique sellers.
In 2022 and 2021, the number of buyers and sellers was below 6 and 4 million, respectively, despite the sales volume reaching $23.77 and $15.70 billion. The number of transactions in 2024 was 71.88 million, lower than the 91.55 million recorded in 2023 but higher than the 56.74 and 34.97 million registered in 2022 and 2021, respectively.
NFT traders spent an average of $123 per sale, higher than 2023’s $95 but lower than 2021/2022’s over $400. Unlike in the previous two years, the volume from wash trades was $2.57 billion in 2024 compared to over $27 billion in 2022 and close to $6 billion in 2023.
Axie Infinity, CryptoPunks, and Azuki Lead the Pack
The first four months of 2024 registered the highest volumes of the year reaching over $1.2 billion. December was the fifth most productive month with $888.6 million in volume.
The top NFT collections by all-time sales volume include Axie Infinity, Bored Apes, Cryptopunks, Mutant Apes, Art Blocks, Otherdeed, NBA Top Shot, and Azuki. Collectibles in the CryptoPunks collection are among NFTs with the highest sale prices.
With crypto prices expected to rise in 2025, the NFT sales volume in 2025 may exceed that of 2024.
