The month of November marked a significant recovery, achieving a sales volume of $562 million, the highest in six months.

Looking ahead to January 2025, experts are optimistic about a potential NFT bull run, fueled by community engagement plans from major Ethereum-based collections.

In a notable development, Mythical Games and FIFA announced a mobile football game, FIFA Rivals, set to incorporate NFTs and potentially release in summer 2025.

Throughout 2024, the market encountered significant challenges, including a seven-month downturn and the lowest sales volumes since 2021 in September.

The Azuki NFT collection, a blue-chip series, saw remarkable success in December, recording $40 million in sales, a staggering 595% increase from the previous month.

In 2024, the NFT market saw impressive sales figures, with Ethereum and Bitcoin each recording $3.1 billion in sales, while Solana followed with $1.4 billion.

December continued this upward trend, with trading sales volume nearly reaching $1 billion, reflecting a 55% increase from November.

Despite facing challenges such as regulatory hurdles and a prolonged downturn, the NFT market demonstrated resilience, showing late-year gains and a shift towards more utility-driven applications.

In November, Kraken announced the shutdown of its NFT marketplace, allowing users until February 27, 2025, to withdraw their assets.

A staggering 98% of NFT collections experienced minimal or no trading activity, with only 0.2% of drops being profitable.

Ethereum-based NFTs played a crucial role in December's sales, generating $482 million and contributing significantly to the overall $877 million in sales.

Animoca Brands chairman Yat Siu expressed confidence that NFT trading volumes could surpass billions monthly as the crypto market continues to evolve.