NFT Sales Volumes Reach Six-Month High at $562 Million Monthly

Non-fungible tokens (NFTs) have maintained their momentum in terms of monthly sales, recording a significant surge of 57.8% in November. This growth is a testament to the ongoing recovery of digital collectibles.

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November NFT Sales Volume Hits $562 Million

According to data from CryptoSlam, a company that tracks and analyzes blockchain data, NFTs recorded $562 million in sales in November. This substantial increase in volume marks a significant milestone for the industry, with November’s monthly sales volume being the highest since May 2024.

NFT Sales Volume Comparison: May to December 2024

NFT Sales Volume Still Below Peak Levels

Although the surge in NFT sales is a positive sign, it’s essential to note that monthly volumes are still far from their peak in March 2024. In that month, digital collectible sales volumes reached an all-time high of $1.6 billion. However, this was followed by a seven-month slump, with each month’s sales volume decreasing until it reached its lowest point since 2021.

CryptoPunks Floor Price Surges by 52%

As the broader crypto markets experienced growth, popular NFT collection CryptoPunks also had an impressive record in November. According to DefiLlama, a website that tracks and analyzes blockchain data, CryptoPunks’ floor price increased from 26.3 ETH on November 1 to 39.7 ETH by November 30. This represents a 52% surge in value.

CryptoPunks Floor Price Data: September to November

| Month | Floor Price (ETH) |
| — | — |
| September 2024 | 20.5 ETH |
| October 2024 | 24.8 ETH |
| November 2024 | 39.7 ETH |

CryptoPunks Sales Volume Experiences Significant Growth

CryptoSlam data also shows that CryptoPunks had a 30-day sales volume of over $49 million in November, a 392% increase compared to the previous month. The collection recorded 388 sales transactions, which is 213% more than in October.

Apart from CryptoPunks, Pudgy Penguins Collection Also Experiences Growth

The Pudgy Penguins collection also had an impressive November, with its monthly sales volume surging by 262% month-on-month to $16 million. DefiLlama data shows that the collection’s floor price rose from 8.7 ETH on November 1 to 13 ETH by November 30, representing a 49% increase in value.

NFT Sales Volume by Blockchain: November

NFT Sales Volume by Blockchain: November Comparison

Conclusion

The continued growth of NFT sales in November is a positive sign for the industry, which has been recovering from its slump earlier this year. The surge in CryptoPunks and Pudgy Penguins floor prices is also a testament to the ongoing demand for digital collectibles.