The NFT market is a curious beast, isn’t it? Just when you think you’ve wrapped your head around the dizzying highs and lows, along comes a quarter that defies expectations. In Q4 of 2024, the total sales volume on Immutable X and Immutable zkEVM saw a staggering increase of 55.3%, surging from $51.2 million to $79.5 million! Sounds like a win, right? But wait—things aren’t all sunshine and rainbows. Even with rising sales, participation in the market is faltering, as both daily sellers and buyers took a hit. It’s as if the party is getting more exclusive, with fewer guests showing up but bigger purchases being made. So, what does this mean for the future of NFTs? Buckle up as we dive deeper into the numbers and trends shaping this captivating landscape! LEARN MORE
In the fourth quarter of 2024, the total NFT sales volume across Immutable X and Immutable zkEVM increased by 55.3% quarter-over-quarter.
Messari’s latest analysis revealed that the figure rose from $51.2 million to $79.5 million.
Market Participation Plummets
Despite this growth, both the average daily sellers and buyers declined significantly, with daily sellers dropping 43.0% from approximately 1,500 to 880, and daily buyers falling 38.1% from about 1,300 to 800. This suggests a shift toward higher average transaction values amid fewer market participants.
The sales surge was primarily driven by strong demand for Guild of Guardians Heroes and Avatars NFTs, which accounted for more than 99% of the total NFT trading volume in the quarter. Most of the sales occurred on Immutable zkEVM, where Guild of Guardians NFTs are traded. Immutable zkEVM also saw a substantial 73.3% rise in average daily NFT sales volume, growing from around $484,000 in Q3 to $839,000 in Q4, boosting its share of total sales volume to over 97% across both chains.
