NFT Sales Hit $1.7B In December – Here’s The NFT Market Prediction For January 2024

In recent weeks, the world of non-fungible tokens has experienced a meteoric rise, characterized by a surge in popularity, high-profile sales, and a thriving community of artists, creators, and collectors. In December, the non-fungible token market saw explosive growth, attracted by the rise of Ordinals, SOL NFTs and BRC-20 NFTs.

NFT Sales Hit In December 2023

Data compiled by CryptoSlam.io, an on-chain data aggregator, indicates that non-fungible token sales skyrocketed in December. In the past 30 days, the burgeoning global NFT market has amassed a trading sales volume of $1.7 billion, representing a 67% spike from November.

Bitcoin, the blockchain network that supports the flagship crypto ‘Bitcoin,’ was the most traded network for non-fungible tokens in December. In the past 30 days, the Bitcoin-based NFT collection has amassed a trading sales volume of $862 million. During this time, Bitcoin-based NFT sales surged 125% from the previous month.

Non-fungible tokens hosted on Ethereum, the largest and most preferred blockchain network for NFTs, were the second most traded NFT collections in December. In the past 30 days, Ethereum-based NFTs have recorded a trading sales volume of $360 million. However, the Ethereum NFT sales declined 12% in December from the previous month.

Digital collectibles hosted on Solana were the third most traded NFT collection in December 2023. In the past 30 days, the Solana-based NFT collection has amassed a trading sales volume of $322 million, representing a 280% spike from the previous month. Solana blockchain network emerged as the main competitor for Ethereum in December.

Source: CryptoSlam.io, NFT sales volume by blockchain in the past 30 days

Non-fungible token collections hosted on Polygon, an Ethereum scaling network, were the fourth most traded NFT collection in December 2023. In the past 30 days, Polygon-based NFTs have amassed a trading sales volume of $48 million, representing a 7.03% spike from the past month.

The Arbitrum blockchain network has recently risen in rankings. In December, Arbitrum-based NFTs were the most traded NFT collection. In the past 30 days, Arbitrum-based NFTs have amassed a trading sales volume of $28 million, representing a 180% spike from the past month.

Ethereum blockchain network took the lead in NFT washing in December, amassing a trading sales volume of $366 million. By description, wash trading is a form of market manipulation in which collectors simultaneously sell and buy the same NFTs, creating a false impression of market activity.

Ten Most Selling NFTs In December 2023

Source: CryptoSlam.io, top selling NFTs in the past 30 days

1. $SAT BRC-20 NFT Collection

$SAT, a non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the top-selling NFT collection in December. In the past 30 days, the $SAT BRC-20 NFT collection has recorded a trading sales volume of $81 million. The NFT collection fell 11.94% in sale volume in December.

2. Bitcoin Ordinal ‘Uncategorized’ NFTs

Bitcoin Ordinals, the equivalent of non-fungible tokens created on the Bitcoin blockchain using satoshis, the smallest denomination on the chain, has been the second most-selling in December. In the past 30 days, Bitcoin Ordinals NFT collections have attracted a trading sales volume of $81 million. Bitcoin Ordinal sales rose 294% in December from the past month.

3. $RAT BRC-20 NFT Collection

$RAT, an animal-inspired non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the third most selling in December. In the past 30 days, the $RAT BRC-20 NFT collection has recorded a trading sales volume of $56 million. $RAT BRC-20 NFT sales rose 25.63% in December from the past month.

4. $MICE BRC-20 NFT Collection

$MICE, another animal-inspired non-fungible token collection created on the Bitcoin blockchain network, has been the fourth most-selling NFT collection in December. In the past 30 days, the $MICE BRC-20 NFT collection has amassed a trading sales volume of $43 million. $MICE BRC-20 NFT sales increased 8,987% in December from the past month.

5. Tensorians NFT Collection

Tensorians, an NFT collection exclusively created on the Solana blockchain network, has been the fifth most-selling NFT collection in December. In the past 30 days, Tensorians NFT collection has amassed a trading sales volume of $27 million. Tensorians NFT sales volume increased 323% in December.

Source: CryptoSlam.io, top selling NFTs in the past 30 days

6. Bitcoin Frog NFT Collection

Bitcoin Frogs, an NFT collection hosted on the Bitcoin blockchain network using Sotoshi Nakamoto’s ordinal protocol, was the sixth most-selling NFT collection this December. In the past 30 days, the Bitcoin Frogs NFT collection has amassed a trading sales volume of $26 million. Bitcoin Frogs NFT sales jumped 143% in December.

7. $SQTS BRC-20 NFT Collection

$SQTS, another non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, was December’s seventh most-selling NFT collection. In the past 30 days, the $SQTS BRC-20 NFT collection has amassed a trading sales volume of $26 million.

8. Mad Lads NFT Collection

Mad Lads, an NFT collection by the digital asset firm Coral that features a limited edition of 10,000 NFTs hosted on the Solana blockchain network, has been the eighth most-selling NFT collection in December. In the past 30 days, the Mad Lads NFT collection has recorded a trading sales volume of $24 million. Mad Lads NFT sales jumped 27.54% in December.

9. Sentry Node License NFT Collection

Sentry Node License, a non-fungible token collection hosted on the Arbitrum blockchain network, has been the ninth most-selling NFT collection in December. In the past 30 days, the Sentry Node License NFT collection has amassed a trading sales volume of $22 million.

10. Gods Unchained NFT Collection

Gods Unchained, an NFT collection from the digital trading card Gods Unchained hosted on Immutable X, was the tenth most-selling NFT collection in December. In the past 30 days, the Gods Unchained NFT collection has recorded a trading sales volume of $21 million, closing our ten top-selling NFT collections in December 2023.

Most Expensive NFTs Sold In December 2023

Van Gogh’s painting #216 was the most expensive NFT collection sold in December, selling for $1,199,108 thirty days ago. FrxETHRedemption #33 was the second most expensive NFT collection sold in December, selling for $638,433 seven days ago. Deep Vision #05128 NFT was the third most expensive NFT collection sold in December, selling $551,770 twelve days ago.

Source: CryptoSlam.io, most expensive NFTs sold in the past 30 days

The NFT Market Prediction For January 2024

The non-fungible token space is expected to grow further next year. In an exclusive interview with Cointelegraph, Jason Lau, chief innovation officer at crypto exchange OKX, said that he believes the recent trend of placing NFTs on the Bitcoin network will continue in 2024 as educators become more “educated and discerning.” Bitcoin-based NFTs have been taking the NFT space by storm in 2023.

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• Source: https://insidebitcoins.com/news/nft-sales-hit-1-7b-in-december-heres-the-nft-market-prediction-january-2024