In December, the nft market thrived with an increase in trading volumes and an increase in the number of unique users. Explore detailed market insights in our monthly December nft Report, created in collaboration with Footprint Analytics.
December saw a notable surge in the cryptocurrency and nft arenas, with bitcoin and ethereum experiencing significant upward trends, indicating a rejuvenated market. The nft sector, in particular, demonstrated its vitality with increasing trading volumes and an increase in the number of unique users (wallets), indicating an evolving and maturing landscape.
This report is based on data obtained from Footprint Analytics' nft Research Page, a complete and easy-to-use panel. It offers up-to-date statistics and metrics essential for capturing the pulse of the nft industry, spanning operations, projects, financing, and more.
Key points
crypto Macros Overview
- December was a month of resistance for bitcoin, starting at $37,729 and rising 11.8% to conclude at $42,171.
- This optimism, along with the US Federal Reserve's planned rate cuts, bolstered investor confidence, which had a positive impact on the cryptocurrency sector.
nft Market Overview
- December stood out as a notable month, marked by a significant 32.3% increase in trading volume to $852.2 million.
- The nft market cap also showed resilience, starting at $5.24 billion and growing 6.5% to close at $5.58 billion.
- The Blue Chip Index saw a modest 4.6% increase.
Chains and markets for nft
- In December, several trends were observed in blockchain network participation: ethereum's user base grew by 10.9%, Polygon's increased by 19.2%, BNB Chain saw a 41.8% increase, and Sui users doubled.
- The nft market volume in 2023 amounted to $13.12 billion, down from the previous year's high. ethereum's market dominance fell slightly to 97.8%, down from 99.8% in 2022, indicating gradual market diversification.
- In 2023, the annual volume performance of key nft markets showed notable changes from the previous year. Blur achieved a remarkable annual volume of $7.26 billion, a jump from $646.03 million in 2022.
nft Investment and Financing
- December was a very active month in the nft market, marked by five funding rounds that raised a total of $159.88 million.
- LINE NEXT increases $140 million to expand the Web3 ecosystem.
What's new?
- Ubisoft presents “Warlord nft” ahead of the long-awaited release of “Champions Tactics: Grimoria Chronicles” scheduled for 2024.
- Forbes Web 3.0 launches nft collective wallet.
- Animoca Brands raises an additional $11.88 million in second tranche of financing for Mocaverse.
- Magic Eden integrates the nft marketplace into the blockchain strategy game Honeyland.
crypto Macros Overview
December was a month of resistance for bitcoin, starting at $37,729 and rising 11.8% to conclude at $42,171. ethereum mirrored this rise, opening at $2,052 and rising 11.7% to finish at $2,293.
![](https://technicalterrence.com/wp-content/uploads/2024/01/December-Monthly-NFT-Report-with-Footprint-Analytics.png)
The month also witnessed bullish sentiment in global stock markets, spanning those of the US, India, Japan, France and Germany. This optimism and the planned rate cuts by the US Federal Reserve reinforced investor confidence, which had a positive impact on the cryptocurrency sector. Additionally, the expected approval of a spot bitcoin ETF in the US and Hong Kong's readiness for spot cryptocurrency ETF applications contributed to this optimistic mood. These developments mean increasing alignment between traditional financial markets and the crypto ecosystem.
nft Market Overview
December stood out as a notable month, marked by a significant 32.3% increase in trading volume to $852.2 million. The number of transactions increased by 29.4% to 1,384,729, while unique user wallets saw an increase of 21.4% to 297,432.
The nft market cap also showed resilience, starting at $5.24 billion and growing 6.5% to close at $5.58 billion.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_948_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_948_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
The buyer-seller ratio on the nft marketplace reached a remarkable 102.1%, an increase of 1.45% since November, with 180,232 buyers (an increase of 22.7%) and 176,607 sellers (an increase of 21.0% ).
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_303_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_303_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
The Blue Chip Index also saw a modest 4.6% increase.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_642_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_642_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
Key insights from Footprint Analytics indicated notable growth for Pudgy Penguins and Mocaverse in December. Chubby penguinsThe minimum price shot up 64.4%, going from 6.46 eth to 10.62 eth, while mocaverseThe minimum price increased by 51.6%, from 2.23 eth to 3.38 eth. Besides, Animoca Brands raised an additional $11.88 million for Mocaverse in December, following a $20 million investment in September 2023.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_673_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305536_673_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
Chains and markets for nft
December highlighted ethereum as a leader in the nft market with a substantial trading volume of $836.1 million, representing 98.1% of total market activities, a notable 31.8% increase from November .
The month's data revealed various user engagement trends on blockchain networks. ethereum continued its upward trend, increasing its number of unique users to 155.74 thousand, an increase of 10.9% since November. Polygon's user count rose 19.2% to 109,65,000, recovering from its previous drop. BNB Chain also recovered, reaching 23.83 thousand users, an increase of 41.8%, although still below its July peak. Sui doubled its November figure, reaching 18.47 thousand users.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_3_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_3_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
Taking a broader view, the nft market volume in 2023 amounted to $13.12 billion, down from the previous year's high. ethereum's market dominance fell slightly to 97.8%, down from 99.8% in 2022, indicating gradual market diversification.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_697_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_697_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
Polygon led the unique user count in 2023 with a notable increase of 231.0%, reaching 1.28 million users. ethereum saw a 45.2% decline to 1.19 million users, reflecting a shift in user preferences between chains. BNB Chain's user base expanded to 0.35 million, an increase of 280.7% from 2022.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_449_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_449_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
Market dynamics in December showed significant changes. Blur's trading volume grew 45.4% to $620.82 million, while OpenSea's volume increased 25.2% to $186.97 million. X2Y2, however, saw a 32.0% decline in volume.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_675_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305537_675_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
Furthermore, OpenSea unique users increased by 14.02% to 232,702 in December, affirming its leadership. Blur and Element also reported unique user growth of 18.99% and 18.58%, respectively.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_811_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_811_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
In 2023, the annual volume performance of key nft markets showed notable changes from the previous year. Blur achieved a notable annual volume of $7.26 billion, a jump from $646.03 million in 2022. OpenSea, despite a drop in volume from $20.91 billion to $3.31 billion, remained influential.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_611_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_611_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
OpenSea's unique user count saw a slight decline, while Blur's user base increased by 189.78% to 291,579, indicating its rapid rise in the nft market.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_454_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_454_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
nft Investment and Financing
December was a very active month in the nft market, marked by five funding rounds that raised a total of $159.88 million.
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_307_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
![](https://technicalterrence.com/wp-content/uploads/2024/01/1704305538_307_December-Monthly-NFT-Report-with-Footprint-Analytics.png)
As we bid farewell to 2023, the resilience and dynamic evolution of the nft market heralds a transformative year in 2024. NFTs are rapidly advancing beyond traditional collecting, increasingly serving as a means to represent customer identities, merging realities digital with physical and promoting user co-creation. This evolution marks a clear path toward broader mainstream adoption. The increasing diversity in user participation and the emergence of cutting-edge platforms are shaping a multi-faceted and richly layered nft ecosystem, poised for continued innovation and growth.
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Data includes:
- Blockchains: ethereum, Polygon, BNB Chain, Cronos, Optimismo, sui
- Markets: OpenSea, LooksRare, Blur, X2Y2, Cryptopunks, Rarible, SuperRare, Foundation, Decentraland, Aavegotchi, Element, Era7, Sandbox, Minted, Clutchy, BlueMove, Hyperspace, Tocen, and Memory.
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*All financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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