December Month-to-month NFT Report with Footprint Analytics

In December, the NFT market thrived with buying and selling volumes surging and distinctive consumer counts rising. Discover the detailed insights of the market in our December Month-to-month NFT Report, created in collaboration with Footprint Analytics.

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

This report relies on information 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 heartbeat 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 fee 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, various traits in blockchain community engagement have been noticed: Ethereum’s consumer 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 yr’s excessive. Ethereum’s market dominance barely receded to 97.8%, down from 2022’s 99.8%, indicating a gradual diversification out there.
• In 2023, the yearly quantity efficiency of key NFT marketplaces confirmed notable shifts from the earlier yr. 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 within 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 Techniques: Grimoria Chronicles” set for 2024.
• Forbes Net 3.0 launches NFT collective pockets.
• Animoca Manufacturers raises an extra US$11.88 million within the second tranche of funding for Mocaverse.
• Magic Eden integrates the NFT market into the blockchain technique sport 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 fee cuts strengthened investor confidence, positively impacting the cryptocurrency sector. Moreover, the anticipated approval of a spot Bitcoin ETF within the US and Hong Kong’s readiness for spot crypto ETF functions contributed to this upbeat temper. These developments signify an rising 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 consumer wallets noticed a 21.4% enhance, 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 client-to-seller ratio within the NFT market reached a notable 102.1%, a 1.45% enhance from November, with 180,232 patrons (up 22.7%) and 176,607 sellers (a 21.0% enhance).

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’ flooring value soared by 64.4%, rising from 6.46 ETH to 10.62 ETH, whereas Mocaverse‘s flooring value escalated by 51.6%, from 2.23 ETH to three.38 ETH. Moreover, Animoca Manufacturers raised an extra US$11.88 million for Mocaverse in December, following a US$20 million funding in September 2023.

Chains & Marketplaces for NFTs

December spotlighted Ethereum because the chief within the NFT market with a considerable buying and selling quantity of $836.1 million, comprising 98.1% of the full market actions, a notable 31.8% enhance from November.

The month’s information revealed various consumer engagement traits throughout blockchain networks. Ethereum continued its upward development, rising its distinctive consumer depend to 155.74K, a ten.9% enhance from November. Polygon’s consumer 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% enhance, 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 yr’s excessive. Ethereum’s market dominance barely receded to 97.8%, down from 2022’s 99.8%, indicating a gradual diversification out there.

Polygon led the 2023 distinctive consumer depend with a exceptional 231.0% enhance, reaching 1.28 million customers. Ethereum noticed a forty five.2% lower to 1.19 million customers, reflecting a shift in consumer preferences throughout chains. BNB Chain’s consumer base expanded to 0.35 million, a 280.7% bounce 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, nevertheless, 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 Ingredient 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 yr. 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 consumer depend noticed a slight decline, whereas Blur’s consumer base surged by 189.78% to 291,579, signaling its speedy ascent within the NFT market.

NFT Funding & Funding   

December was a bustling month within 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 yr forward in 2024. NFTs are quickly shifting past conventional amassing, more and more serving as a medium to characterize buyer identities, melding digital with bodily realities, and fostering consumer co-creation. This evolution marks a transparent path towards broader mainstream adoption. The increasing variety in consumer 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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Knowledge consists of: 

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

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