NFT Market in October: New Growth and Record Sales

October 2024 has wrapped up, and it seems the NFT market is experiencing a positive trend. Sales volume grew by 10% compared to the previous month, reaching $347 million. This growth could indicate a renewed interest in NFTs among both collectors and investors.

Top Sales in October: Classic NFT Projects and Rising Stars

Some of the most expensive sales in October came from legendary NFT projects:

• CryptoPunks remain a focal point for collectors, attracting those who value rarity and history.
• Bored Ape Yacht Club (BAYC) retains its popularity, particularly due to the high prices of rare pieces.
• Autoglyphs, unique generative artworks, are highly valued for their innovative approach to creativity.
• Azuki, a collection inspired by anime culture, also showed high performance, satisfying demand from fans and collectors.

The largest deal in October was an NFT sale for 24,000 ETH (~$56.8 million), marking a significant event in the industry and confirming that major players remain interested in high-value NFTs.

Magic Eden — The Leader Among Marketplaces

For the eighth straight month, the Magic Eden platform has managed to maintain its leadership in the NFT market, holding 29% of the market with a trading volume of $98 million. Offering a variety of blockchains — from Solana and Ethereum to Polygon and Bitcoin — Magic Eden serves as a convenient platform for users with diverse interests.

Key Marketplace Indicators for October:

• Total trading volume — $98 million;
• Market share — 29%;
• Number of users — over 400,000.
  

These figures may indicate positive trends in the NFT sector, but it remains to be seen how sales volumes and interest in new collections will evolve in the coming months.