NFT Sales Hit $8.8B In 2024 – Here’s 2025 NFT Market Prediction

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The non-fungible token market experienced an up-and-down swing in the recently ended year 2024. It was the best of times, the worst of times, and then the best of times again. The NFT market started the year bullish, with trading sales volume climbing to over $4.1 million in the first quarter of 2024. The NFT market surge was fueled by the resurgence of Bitcoin-based NFTs.

Top NFTs of this Cycle (My Opinion)
I believe that Memecoin NFTs have a huge advantage and will dominate in 2025. pic.twitter.com/eI5kB9CTC8
— Murad 💹🧲 (@MustStopMurad) October 12, 2024

NFTs Reach $8.8 Billion Sales Volume In 2024

At the beginning of Q2 2024, the NFT market suffered a light blow, with its trading sales volume flipping to $1.2 billion in April, down around $205 million from the previous month. In May 2024, the NFT market downturn further escalated, leaving the trading sales volume down nearly half to $599 million. In June 2024, the NFT meltdown further deteriorated, pushing trading sale volume to $436 million.

In the first half, the NFT market further declined month-over-month, declining to $428 million in July 2024. In August 2024, the global NFT market further went down, recording a trading sales volume of $393 million. In September 2024, the NFT trading sales volume was further reduced to only $303 million. Cumulatively, the global NFT market raised a trading sales volume of $1.12 billion in Q3, 2024.

Source: cryptoslam.io, NFT sales volume by months

The NFT market decline in Q3 2024 was fueled by several factors, including what seemed like an attack from the regulatory bodies. In September 2024, the United States Securities and Exchange Commission (SEC) served a wells notice to OpenSea, one of the leading non-fungible token marketplaces. This Wells notice claimed that OpenSea was operating illegally and that all NFTs on its platforms were securities. The team behind the CyberKongz NFT project also received a well notice.

Q3 2024 NFT Market Report 📄
The NFT market has been a rollercoaster ride in 2024.
While volatility caused trading volume to plunge 50% quarter-over-quarter to $1.1b in Q3, this still represents an impressive figure given the current landscape
1/ pic.twitter.com/r6w3vhmYZ1
— NFTsky (@NFTsky_) October 29, 2024

In Q4 2024, the non-fungible token market has recorded an uptick, with over $350 million in sales in September. The NFT market received a huge boost in November after Trump’s re-election, pumping over $500 million. In December, the NFT market further pumped, recording nearly $1 billion. In the end, the NFT market closed with $8.84 billion in sales volume in 2024, which is more than $130 million higher than last year.

[CRYPTOSLAM!] #NFT sales hit $8.83 billion in 2024, surpassing 2023 by $100 million with Ethereum and Bitcoin leading pic.twitter.com/OTNatn6crm
— BecauseBitcoin.com (@BecauseBitcoin) December 31, 2024

NFTs Predicted To Expect To Hit New ATH

January is typically one of the NFT market’s hottest months, so many experts expect an extreme turnaround early in 2025. Some notable industry leaders like Van Eck and Yat Siu, the co-founder of Animoca Brands, predict the global NFT market will hit an all-time high in 2025. In a recent interview with crypto media platforms at the Bitcoin MENA event in Abu Dhabi, Siu said the NFT market will retest another bull run even bigger” than during 2021 and 2022. Back then, the NFT monthly volumes ranged from $1 billion to $5 billion, peaking at $6 billion in January 2022.

In that context, the NFT market is expected to begin rallying this January, given that it rallied almost the same time in 2022. In a similar pattern, the NFT marker began pumping away from November 2021, and the same trend was recorded in November 2024 and December 2024. Yat Siu’s stake is a bold prediction, which might be a prediction that everyone agrees with, too. Nonetheless, it will depend on several factors in the NFT market.

Factors Fueling The Next NFT Bull Run

The recent re-election of Donald Trump as the 47th president of the United States and the birth of AI agents will be primary drivers of the 2025 crypto and non-fungible token cycle. The Trump administration is the biggest x-factor here and also one of the primary reasons that NFTs will reach the masses in 2025. The NFT community expects that Donald J. Trump will usher in a crypto-friendly regulatory environment.

Luckily, Trump has big bags of crypto assets and NFTs and ties to a DeFi platform. In December 2022, Trump launched his first NFT collections featuring a limited set of 45,000 NFTs on the Polygon blockchain network. During his campaign, Trump promised to make the United States crypto capital of the world. If his promises are realized, it could make 2025 the biggest year for crypto yet.

The nascent Artificial Intelligence is another factor that will fuel NFT innovations in 2025. We already knew that AI would change the world, replace jobs, and change the way we navigate the economy in the future. Nonetheless, we didn’t know that change would arrive so soon in the form of essential AI Agents. Recently, we witnessed AI agents taking over X and capturing the attention of crypto traders.

In the NFT space, we have AI Agent NFT launchpads, agents that trade crypto, agents that share alpha, personal assistants who can buy items from online shops like Amazon, and so on. In this New Year, there’s a great chance that we’ll see major innovations in AI, and unlike OpenAI, which is a privately held company, the public can now invest in these AI Agent’s NFT coins. In that case, AI will be a significant game changer in 2025.

In conclusion, there are more new blockchain networks like the Berachain, Monad, Abstract, and Sonium launching over the next few months, which might also fuel some frenzy in the NFT market. Moreover, several notable NFT projects like OpenSea and Azuki have announced their token airdrop in 2025. Additionally, we can’t forget how much Bitcoin fueled the recent bull run, and with $BTC predicted to hit north of $150,000, along with a hot memecoin season, the rotation to NFTs could be extreme.