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NFTs have shown resilience in 2024, with $8.5 billion in sales despite setbacks, including major marketplace closures and regulatory scrutiny from the SEC. The number of unique buyers surged by 62%, indicating a growing demand for NFTs, even as the market faced a seven-month downturn. Industry experts predict a transformative future for NFTs, expanding their utility beyond digital art into areas like identity verification and ownership records.
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.
Jana Bertram
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
nfts in 2024 resilience amid challenges and signs of future growth
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12:00 23.12.2024
ethereum leads nft sales as market shows strong growth and challenges
07:27 12.12.2024
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