December Monthly NFT Report in Collaboration with Footprint Analytics

In December, the NFT market thrived with buying and selling volumes surging and distinctive person counts growing. Discover the detailed insights of the market in our December Monthly NFT Report, created in collaboration with Footprint Analytics.

December noticed a notable surge in the crypto and NFT realms, with Bitcoin and Ethereum experiencing vital upward developments, signaling a rejuvenated market. The NFT sector, in explicit, demonstrated its vitality with hovering buying and selling volumes and a rise in distinctive person (pockets) counts, indicative of an evolving and maturing panorama.

This report is predicated on knowledge sourced from Footprint Analytics’ NFT analysis web page, a complete and user-friendly dashboard. It affords up-to-date statistics and metrics important for greedy the heart beat of the NFT trade, encompassing trades, tasks, funding, and extra.

Key Factors

Crypto Macro Overview

• December was a month of resilience for Bitcoin, commencing at $37,729 and climbing 11.8% to conclude at $42,171. 
• This optimism, coupled with the anticipated US Federal Reserve charge cuts, strengthened investor confidence, positively impacting the cryptocurrency sector.

NFT Market Overview

• December stood out as a exceptional month, marked by a major 32.3% surge in buying and selling quantity to $852.2 million.
• The market cap of NFTs additionally displayed resilience, beginning at $5.24 billion and rising 6.5% to shut at $5.58 billion.
• The Blue Chip Index noticed a modest rise of 4.6%.

Chains & Marketplaces for NFTs

• In December, numerous developments in blockchain community engagement have been noticed: Ethereum’s person base grew by 10.9%, Polygon’s elevated by 19.2%, BNB Chain noticed a 41.8% rise, and Sui’s customers doubled. 
• The 2023 NFT market quantity totaled $13.12 billion, marking a lower from the earlier 12 months’s excessive. Ethereum’s market dominance barely receded to 97.8%, down from 2022’s 99.8%, indicating a gradual diversification in the market.
• In 2023, the yearly quantity efficiency of key NFT marketplaces confirmed notable shifts from the earlier 12 months. Blur achieved a exceptional yearly quantity of $7.26 billion, a leap from $646.03 million in 2022. 

NFT Funding & Funding   

• December was a bustling month in the NFT market, marked by 5 funding rounds that cumulatively raised $159.88 million.
• LINE NEXT raises $140 million to increase the Web3 ecosystem.

What’s New? 

• Ubisoft introduces “Warlord NFTs” forward of its extremely anticipated launch of “Champions Tactics: Grimoria Chronicles” set for 2024.
• Forbes Internet 3.0 launches NFT collective pockets.
• Animoca Manufacturers raises an extra US$11.88 million in the second tranche of funding for Mocaverse.
• Magic Eden integrates the NFT market into the blockchain technique recreation Honeyland.

Crypto Macro Overview

December was a month of resilience for Bitcoin, commencing at $37,729 and climbing 11.8% to conclude at $42,171. Ethereum mirrored this ascent, opening at $2,052 and escalating 11.7% to finish at $2,293.

The month additionally witnessed a bullish sentiment in world inventory markets, spanning the US, India, Japan, France, and Germany. This optimism and the anticipated US Federal Reserve charge cuts strengthened investor confidence, positively impacting the cryptocurrency sector. Moreover, the anticipated approval of a spot Bitcoin ETF in the US and Hong Kong’s readiness for spot crypto ETF functions contributed to this upbeat temper. These developments signify an growing alignment between conventional monetary markets and the crypto ecosystem.

NFT Market Overview 

December stood out as a exceptional month, marked by a major 32.3% surge in buying and selling quantity to $852.2 million. The variety of transactions ascended by 29.4% to 1,384,729, whereas distinctive person wallets noticed a 21.4% improve, reaching 297,432.

The market cap of NFTs additionally displayed resilience, beginning at $5.24 billion and rising 6.5% to shut at $5.58 billion.

The customer-to-seller ratio in the NFT market reached a notable 102.1%, a 1.45% improve from November, with 180,232 consumers (up 22.7%) and 176,607 sellers (a 21.0% improve).

The Blue Chip Index, too, noticed a modest rise of 4.6%.

Key insights from Footprint Analytics indicated exceptional progress for Pudgy Penguins and Mocaverse in December. Pudgy Penguins’ ground worth soared by 64.4%, rising from 6.46 ETH to 10.62 ETH, whereas Mocaverse‘s floor price escalated by 51.6%, from 2.23 ETH to 3.38 ETH. Additionally, Animoca Brands raised an additional US$11.88 million for Mocaverse in December, following a US$20 million investment in September 2023.

Chains & Marketplaces for NFTs

December spotlighted Ethereum as the leader in the NFT market with a substantial trading volume of $836.1 million, comprising 98.1% of the total market activities, a notable 31.8% increase from November.

The month’s knowledge revealed numerous person engagement developments throughout blockchain networks. Ethereum continued its upward development, rising its distinctive person depend to 155.74K, a ten.9% improve from November. Polygon’s person depend rose by 19.2% to 109.65K, recovering from its earlier decline. BNB Chain additionally bounced again, reaching 23.83K customers, a 41.8% improve, although nonetheless shy of its July peak. Sui doubled its November determine, rising to 18.47K customers.

In a broader view, the 2023 NFT market quantity totaled $13.12 billion, marking a lower from the earlier 12 months’s excessive. Ethereum’s market dominance barely receded to 97.8%, down from 2022’s 99.8%, indicating a gradual diversification in the market.

Polygon led the 2023 distinctive person depend with a exceptional 231.0% improve, reaching 1.28 million customers. Ethereum noticed a forty five.2% lower to 1.19 million customers, reflecting a shift in person preferences throughout chains. BNB Chain’s person base expanded to 0.35 million, a 280.7% leap from 2022.

December’s market dynamics confirmed vital shifts. Blur’s buying and selling quantity grew by 45.4% to $620.82 million, whereas OpenSea’s quantity rose 25.2% to $186.97 million. X2Y2, nonetheless, skilled a 32.0% lower in quantity.

Moreover, OpenSea’s distinctive customers elevated by 14.02% to 232,702 in December, affirming its management. Blur and Factor additionally reported growths in distinctive customers by 18.99% and 18.58%, respectively.

In 2023, the yearly quantity efficiency of key NFT marketplaces confirmed notable shifts from the earlier 12 months. Blur achieved a exceptional yearly quantity of $7.26 billion, a leap from $646.03 million in 2022. OpenSea, regardless of a quantity drop to $3.31 billion from $20.91 billion, remained influential.

OpenSea’s distinctive person depend noticed a slight decline, whereas Blur’s person base surged by 189.78% to 291,579, signaling its fast ascent in the NFT market.

NFT Funding & Funding   

December was a bustling month in the NFT market, marked by 5 funding rounds that cumulatively raised $159.88 million.

As we bid farewell to 2023, the resilience and dynamic evolution of the NFT market heralds a transformative 12 months forward in 2024. NFTs are quickly shifting past conventional accumulating, more and more serving as a medium to signify buyer identities, melding digital with bodily realities, and fostering person co-creation. This evolution marks a transparent path towards broader mainstream adoption. The increasing variety in person participation and the emergence of cutting-edge platforms are shaping a richly layered and multifaceted NFT ecosystem, poised for continued innovation and progress.

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Information contains: 

• Blockchains: Ethereum, Polygon, BNB Chain, Cronos, Optimism, Sui
• Marketplaces: OpenSea, LooksRare, Blur, X2Y2, Cryptopunks, Rarible, SuperRare, Basis, Decentraland, Aavegotchi, Factor, Era7, the Sandbox, Minted, Clutchy, BlueMove, Hyperspace, Tocen, and Souvenir. 

Take a look at Footprint Analytics >> Here

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Digital artwork fanatic who brings a singular perspective to NFT information.