Is NFTs making a comeback in 2024?

[danny.npadigi]

Following consecutive declines in the past week, sales of non-fungible tokens (NFTs) have regained momentum, showing significant gains. Data from CryptoSlam reveals that global NFT sales volume surged by 28.1% on 25th March, reaching $38.2 million. The total number of NFT transactions also rose by 26.2.

However, the NFT wash volume decreased by 15.2%, currently at $10.6 million, according to CryptoSlam.

Bitcoin leads the scene with a 44% increase in its daily NFT trading volume, currently hovering around $15.9 million. Data indicates that Bitcoin recorded $77,955 in wash trades on 25th March.

Digital collectibles sales surge while the leading NFT marketplace, Blur, records an 11% plunge in its trading volume. According to data from DappRadar, the total NFT sales volume on Blur is sitting at $14.14 million with an average price of around $2,930.

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[Ethan07]

In numerous instances, such as this one, it often results in the loss of your money.

[CryptoGuru]

Similar to traditional art, where some artworks experience significant gains, many others lose value. This is based on perception and artistic quality, determining the value of an artwork.

[danny.npadigi]

Contrary to physical items such as paintings or sculptures, NFTs cannot be subject to physical damage or destruction in a similar manner.