In recent weeks, the world of non-fungible tokens has experienced a meteoric rise characterized by surges in popularity, high-profile sales, and a thriving community of artists, creators, and collectors. The non-fungible token market saw explosive growth in December, driven by the rise of Ordinals, SOL NFT, and BRC-20 NFT.
NFT sales hit in December 2023
Non-fungible token sales surged in December, according to data collected by on-chain data aggregator CryptoSlam.io. Over the past 30 days, trading volume in the fast-growing global NFT market has surged 67% since November to $1.7 billion.
Bitcoin, the blockchain network that powers the flagship cryptocurrency, was the most traded network for non-fungible tokens in December. Over the past 30 days, Bitcoin-based NFT collections have recorded a trading volume of $862 million. During this period, Bitcoin-based NFT sales surged 125% compared to the previous month.
Non-fungible tokens, hosted on Ethereum, the largest and most preferred blockchain network for NFTs, were the second most traded collection of NFTs in December. In the past 30 days, Ethereum-based NFTs have recorded $360 million in transaction sales. However, Ethereum NFT sales in December decreased by 12% compared to the previous month.
Digital collectibles hosted on Solana were the third most traded NFT collections in December 2023. Over the past 30 days, Solana-powered NFT collections have recorded $322 million in transaction sales, a 280% increase month-over-month. The Solana blockchain network emerged as a major competitor to Ethereum last December.
Source: CryptoSlam.io, NFT sales by blockchain over the past 30 days
The collection of non-fungible tokens hosted on Polygon, the Ethereum scaling network, was the fourth most traded NFT collection in December 2023. Over the past 30 days, Polygon-based NFTs have accumulated $48 million in transaction sales, representing a surge of 7.03%. Since last month.
The Arbitrum blockchain network has recently risen in the rankings. In December, Arbitrum-based NFTs were the most traded collection of NFTs. In the past 30 days, Arbitrum-powered NFTs have recorded $28 million in transaction sales, a 180% surge over the previous month.
The Ethereum blockchain network led the NFT wash in December, recording $366 million in transaction sales. According to the explanation, wash trading is a form of market manipulation where collectors sell and buy the same NFTs at the same time, giving a false impression of market activity.
The 10 best-selling NFTs in December 2023
Source: CryptoSlam.io, Top selling NFTs in the last 30 days
1. $SAT BRC-20 NFT Collection
$SAT, a collection of non-fungible tokens created on the Bitcoin blockchain network using the BRC-20 protocol, was the best-selling NFT collection in December. In the past 30 days, the $SAT BRC-20 NFT collection has recorded $81 million in transaction sales. December sales of NFT collections decreased by 11.94%.
2. Bitcoin Ordinal ‘Unclassified’ NFT
Bitcoin Ordinals, the equivalent of non-fungible tokens created on the Bitcoin blockchain using satoshis, the smallest denomination on the chain, were the second most sold token in December. Over the past 30 days, the Bitcoin Ordinals NFT collection has recorded $81 million in trading volume. Bitcoin Ordinal sales increased 294% in December compared to the previous month.
3. $RAT BRC-20 NFT Collection
$RAT, a collection of animal-inspired non-fungible tokens created on the Bitcoin blockchain network using the BRC-20 protocol, was the third best-selling product in December. In the past 30 days, the $RAT BRC-20 NFT collection has recorded $56 million in transaction sales. $RAT BRC-20 NFT sales increased 25.63% in December compared to the previous month.
4. $MICE BRC-20 NFT Collection
$MICE, another collection of animal-inspired non-fungible tokens created on the Bitcoin blockchain network, was the fourth best-selling NFT collection in December. In the past 30 days, the $MICE BRC-20 NFT collection has recorded $43 million in transaction sales. December $MICE BRC-20 NFT sales increased 8,987% compared to the previous month.
5. Tensorian NFT Collection
Tensorians, a collection of NFTs created exclusively on the Solana blockchain network, became the fifth best-selling NFT collection in December. In the past 30 days, the Tensorians NFT collection has recorded $27 million in transaction sales. Tensorians NFT sales increased 323% in December.
Source: CryptoSlam.io, Top selling NFTs in the last 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 best-selling NFT collection this December. Over the past 30 days, transactional sales of the Bitcoin Frogs NFT collection reached $26 million. Bitcoin Frogs NFT sales increased 143% in December.
7. $SQTS BRC-20 NFT Collection
$SQTS, another collection of non-fungible tokens created on the Bitcoin blockchain network using the BRC-20 protocol, was the 7th best-selling NFT collection in December. In the past 30 days, the $SQTS BRC-20 NFT collection has recorded $26 million in transaction sales.
8. Mad Lads NFT Collection
Digital asset company Coral’s NFT collection, Mad Lads, featuring a limited edition of 10,000 NFTs hosted on the Solana blockchain network, was the eighth best-selling NFT collection in December. In the past 30 days, the Mad Lads NFT collection has recorded $24 million in transaction sales. Mad Lads NFT sales increased 27.54% in December.
9. Collect Sentry Node License NFT
Sentry Node License, a collection of non-fungible tokens hosted on the Arbitrum blockchain network, was the ninth best-selling NFT collection in December. In the past 30 days, the Sentry Node License NFT collection has recorded $22 million in transaction sales.
10. Gods Unchained NFT Collection
Gods Unchained, an NFT collection of digital trading cards hosted on Immutable X, was the 10th best-selling NFT collection in December. Over the past 30 days, the Gods Unchained NFT collection has recorded $21 million in transaction sales, rounding out the top 10 best-selling NFT collections of December 2023.
Most Expensive NFT Sold in December 2023
Van Gogh’s painting #216 was the most expensive NFT collection sold in December, selling for $1,199,108 30 days ago. FrxETHRedemption #33 was the second most expensive NFT collection sold in December, selling 7 days ago for $638,433. Deep Vision #05128 NFT was the third most expensive NFT collection sold in December, selling 12 days ago for $551,770.
Source: CryptoSlam.io, Most Expensive NFTs Sold in Last 30 Days
NFT market forecast for January 2024
The non-fungible token space is expected to grow further in the coming year. Jason Lau, chief innovation officer at cryptocurrency exchange OKX, told Cointelegraph in an exclusive interview that the recent trend of deploying NFTs on the Bitcoin network will continue in 2024 as educators become more “educated and discerning.” He said it would continue. Bitcoin-based NFTs are taking the NFT space by storm in 2023.
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