- NFT sales volume grew by 18% in October 2024, totaling $356 million for the month.
- Transaction count for NFTs rose 42% in October, reaching 7.2 million compared to September’s five million.
- Solana NFTs contributed $67 million in sales, nearing a $6 billion all-time volume milestone.
The NFT market experienced a resurgence in October, recording an 18% rise in monthly sales volume. Data from CryptoSlam showed that NFTs amassed $356 million during the month, reversing a decline that had persisted for seven months. This marked a recovery from September’s low, which saw a volume of around $300 million, the lowest since 2021.
Source: CryptoSlam
Increase in Transactions and Weekly Highs
The month of October not only witnessed a boost in overall sales volume but also a significant rise in the number of transactions. Total NFT transactions reached 7.2 million, representing a 42% increase from September’s five million. Between September 30 and October 6, NFT sales exceeded $84 million, marking the highest weekly volume since August.
Mythos Chain-based collection DMarket led with $33 million in sales for the month, followed by the Guild of Guardians Heroes collection on Immutable, which recorded $13 million. Well-known Ethereum and Bitcoin collections, including Bitcoin Puppets, Bored Ape Yacht Club, and CryptoPunks, also demonstrated strong performance.
Solana NFTs Maintain a Strong Presence
Solana-based NFTs, such as DogeZuki, Froganas, and Retardio Cousins, collectively achieved $25 million in sales during October. This pushed Solana’s 30-day sales volume to $67 million, accounting for 19% of the total NFT market volume. Solana’s cumulative sales are approaching $6 billion, solidifying its position as the second-leading blockchain for NFT sales.
The overall increase in October suggests renewed interest in digital collectibles after months of decline, signaling a possible change in momentum for the NFT market.
