The year 2024 was eventful for the NFT market, experiencing various ups and downs, ultimately reaching sales volumes of $8.8 billion. This article explores the key events and forecasts for the upcoming year.
NFT Market Ups and Downs in 2024
The beginning of 2024 saw the NFT market rise with a trading volume of $4.1 million in the first quarter. However, by Q2, the market started to decline: sales were $1.2 billion in April and dropped to $436 million by June. Due to various factors, the market continued to fall to $303 million in September. Yet, by the year-end, the market increased to $1 billion in December due to increased interest following Donald Trump's re-election.
Regulation's Role and Market Impact
In the third quarter, market decline was influenced by regulatory actions. In September, the US Securities and Exchange Commission issued a notice to OpenSea about illegal activities, putting additional pressure on the NFT market.
Expectations and Forecasts for 2025
Experts expect 2025 to be a pivotal year. The market is anticipated to reach new highs due to favorable policies of the Trump administration and the growing role of artificial intelligence in the industry. The development of new blockchains and the launch of significant NFT projects are also expected.
The year 2024 brought trials and opportunities for the NFT market. Expectations for 2025 remain optimistic, with forecasts of new records and market strengthening.
