NFT sales increase 122% in November – Here’s the NFT market forecast for December:

The non-fungible token market has experienced explosive growth in recent weeks with rising prices and increased trading volume. In this article, we’ll take a look at the state of NFTs over the past 30 days and what traders and collectors should expect in the upcoming festive season.

NFT sales surge +120% in November

The global NFT market has seen a significant increase in sales over the past few weeks, driven by the performance of Ethereum and Bitcoin, according to data collected by on-chain data aggregator CryptoSlam.io. Over the past 30 days, trading volume in the global NFT market surged 122% month-on-month to $899 million.

Bitcoin Ordinal, a non-fungible token inscribed on the Bitcoin blockchain network using Satoshi Ordinal theory, was the most traded collection of NFTs in November. In the past 30 days, Bitcoin-based NFT collections have recorded $370 million in transaction sales. Bitcoin NFTs saw sales surge 2163% during this period.

Non-fungible tokens, hosted on Ethereum, the largest blockchain network for NFTs, were the second most traded collection of NFTs in November. In the past 30 days, Ethereum-based NFT collections have recorded $344 million in transaction sales. During this period, transactional sales of Ethereum NFT collections surged 51.70%.

Source: CryptoSlam.io, NFT sales by blockchain

The digital collectible, hosted on Solana, a decentralized blockchain network that uses a proof-of-stake consensus mechanism to provide smart contract functionality, was the third most traded NFT collection in November. Over the past 30 days, trading volume for Solana-powered NFT collections has surged 162% since October to $74 million.

Non-fungible tokens hosted on Mythos Chain and Polygon were the fourth and fifth most traded NFT collections in November. In the past 30 days, Mythos Chain-based NFTs recorded $26 million in transaction sales, while Polygon-based NFTs recorded $25 million in transaction sales. During this period, Mythos Chain and Polygon’s sales decreased by 29% and 34%, respectively.

The 10 best-selling NFTs in November

Source: CryptoSlam.io, Top Selling NFTs by Sales Volume

1. $SAT BRC-20 NFT

SAT, a crypto token created on the Bitcoin blockchain network using the BRC-20 protocol, was the best-selling NFT collection this November. In the past 30 days, the $SAT BRC-20 NFT series has recorded $91 million in transaction sales. During this period, trading volume for $SAT BRC-20 NFTs surged 1,068%.

2. $RAT BRC-20 NFT

$RAT, an animal crypto token created on the Bitcoin blockchain network using the BRC-20 protocol, was the second NFT collection sold in November. In the past 30 days, the $RAT BRC-20 NFT collection has recorded $44 million in transaction sales. The NFT collection reached more than 8,000 buyers and sellers in November.

3. Boring Monkey Yacht Club NFT Collection

Bored Ape Yacht Club, the best-selling NFT collection of all time from digital asset company Yuga Labs featuring a limited edition of 10,000 NFTs hosted on the Ethereum network, was the third best-selling NFT collection of November. In the last 30 days, Bored Ape Yacht Club generated $42 million in transaction revenue. During this period, NFT collection sales surged 93%.

4. CryptoPunks NFT Collection

CryptoPunks, another all-time best-selling NFT collection previously from digital asset company Larva Labs but now owned by Yuga Labs, was the fourth best-selling NFT collection in November. In the past 30 days, CryptoPunks, a collection of NFTs featuring a limited set of 10,000 Ethereum-based NFTs, has recorded $28 million in transaction sales. CryptoPunks sales surged 157%.

5. DMarket NFT Collection

DMarket, a collection of NFTs hosted on the Mythos Chain blockchain network, was the fifth most traded NFT collection in November. In the past 30 days, DMarket NFT collections have recorded $25 million in transaction sales. The DMarket NFT collection saw a 30% drop in sales from October to November.

Source: CryptoSlam.io, Top Selling NFTs by Sales Volume

6. Gods Unchained NFT Collection

Gods Unchained, an NFT collection hosted on the Ethereum scalable blockchain network Immutable X, was the sixth best-selling NFT collection in November. In the past 30 days, the Gods Unchained NFT collection has recorded $22 million in transaction sales. Gods Unchained saw a 54% increase in transactional sales during this period.

7. Bitcoin Ordinal ‘Unclassified NFT’

Bitcoin Ordinals, a non-fungible token on the Bitcoin blockchain using satoshis, the smallest unit on the chain, was the seventh best-selling NFT collection in November. In the last 30 days, Bitcoin Ordinals recorded $20 million in transaction volume. Bitcoin Ordinal NFTs saw a 1598% surge in sales during this period.

8. Captainz NFT Collection

Captainz, an NFT collection from web3-centric studio Memeland, is the eighth best-selling NFT collection in November, with a limited supply of 10,000 Ethereum-based NFTs. In the past 30 days, The Captainz NFT collection has recorded $18 million in transaction sales. The Captains NFT collection saw a 154% surge in sales in November.

9. $BTC BRC-20 NFT

$BTC, another crypto token created on the Bitcoin blockchain network using the BRC-20 protocol, was the 9th most traded NFT collection in November. Over the past 30 days, $BTC’s BRC-20 NFT collection has recorded $17.6 million in transaction sales. $BTC BRC-20 has surged 3377% in sales this month.

10. Mad Lads NFT Collection

Mad Lads, an NFT collection from Solana framework developer Coral, was the 10th best-selling NFT collection in November. Over the past 30 days, the Mad Lads NFT collection has recorded $17.3 million in transaction sales, capping the list of NFT sales for the month. Mad Lads NFT sales surged 773% in November.

Most Expensive NFTs in November

Uniswap V3 Position, a collection of NFTs from Uniswap, a protocol for Ethereum trading and automated liquidity provision, was the most expensive NFT collection in November, selling for more than $1.6 million 12 days ago. BRC-20 of $BTC was the second most expensive NFT collection, selling for $376,307 14 days ago.

Source: CryptoSlam.io, Most Expensive NFTs Sold in November

NFT market forecast for December 2023

Last September, Statista, a famous cryptocurrency research company, predicted that the global NFT market would reach $1.6 billion, and the average revenue per user in the NFT market would reach $114.8 in 2023. Considering the incredible performance of NFTs in November, Statista has its NFT market predictions.

In that context, December may appear more optimistic than November when it comes to NFT adoption. It is worth noting that more cryptocurrency users and NFT traders are likely to use non-fungible tokens to gift to their loved ones during the upcoming Christmas festivities and New Year 2024 celebrations.

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