Ethereum led NFT sales with a weekly volume of $187 million, marking a strong start to December and a 44% increase from the previous week. However, the NFT space faces challenges, including scams that resulted in significant losses for victims, prompting law enforcement action against fraudulent marketplaces. Meanwhile, Magic Eden's new token launch faced technical issues, leading to a rapid decline in value, yet industry experts remain optimistic about the future potential of NFTs across various sectors.