Report: NFT Transaction Volume and Number of Transactions Both Decrease by Nearly 20% in 2024

BlockBeats News, January 15th, According to a recent 2024 Dapp Industry Report published by DappRadar, the NFT transaction volume in 2024 decreased by 19% from 2023 to $13.7 billion, while the number of sales dropped by 18% to just under 50 million, "making 2024 one of the worst-performing years since 2020."

DappRadar added that the NFT market saw significant fluctuations, with the first quarter seeing a 4% increase in transaction volume to $5.3 billion compared to the first quarter of 2023. However, "the momentum was short-lived," as the transaction volume dropped to $1.5 billion in the third quarter and rebounded to $2.6 billion in the fourth quarter.

Furthermore, NFTs had their best year ever in 2022 when they first entered the mainstream, with a transaction volume of $57.2 billion and a transaction count of 121.7 million.