NFT Sales Surge In November As Digital Collectibles Recover

According to Cointelegraph, non-fungible tokens (NFTs) experienced a significant resurgence in November, with monthly sales increasing by 57.8%. Data from CryptoSlam revealed that NFTs achieved $562 million in sales during the month, marking a notable rise from October's figures. This sales volume is the highest recorded since May, when digital collectibles reached $599 million. Despite this growth, NFT sales remain below their peak in 2024, when March saw a high of $1.6 billion. Following this peak, the market experienced a seven-month decline, reaching its lowest point since 2021. The popular NFT collection CryptoPunks saw a remarkable performance in November, coinciding with a broader surge in crypto markets. Data from DefiLlama indicated that CryptoPunks' floor price increased from 26.3 Ether (ETH) on November 1 to 39.7 ETH by the end of the month, equivalent to approximately $147,000 at current market prices. Additionally, CryptoSlam reported that CryptoPunks achieved a 30-day sales volume exceeding $49 million, representing a 392% increase compared to the previous month. The collection also recorded 388 sales transactions, a 213% rise from October. Another notable performer in November was the Pudgy Penguins collection, which saw its monthly sales volume surge by 262% month-on-month, reaching $16 million. DefiLlama data showed that the floor price for Pudgy Penguins rose from 8.7 ETH on November 1 to 13 ETH, or roughly $48,000, by November 30, marking a 49% increase. The Ethereum network led the NFT market in November with over $216 million in sales volume, reflecting a 12% increase from October. Bitcoin, however, recorded the highest percentage increase among the top blockchains for NFTs, with a sales volume of $186 million, marking a 99.44% surge from the previous month. Meanwhile, other networks such as Solana, Mythos Chain, Immutable, Polygon, and BNB Chain collectively recorded $162.9 million in NFT sales volume for November.