Key Insights

• The NFT market recorded $158 million in sales last week, marking a slight 13% dip from $181 million the previous week.
• However, this shows a 70% month-to-date increase compared to early November’s $93 million.
• Ethereum dominated with $49 million weekly sales, followed by Bitcoin at $43 million.
• Solana reported a 58% increase with over 185,000 NFT buyers last week (up from 117,000 last week)
• Big players like McDonald’s and Fifa are entering the NFT market, and millions of players are expected from all over the world.

The NFT market continues to display a great deal of resilience.

November, in particular, has seen massive gains for the sector, even after a slight dip in weekly figures.

The industry’s growing popularity, supported by partnerships and innovation from big players, shows how powerful NFTs can be:

Especially considering how the market is now waking up.

Let’s see how far the NFT market has come and what the future might hold.

Weekly NFT Sales Hit $158 Million.

Data from CryptoSlam shows that the NFT market recorded a sales volume of around $158 million in the past week.

It is worth mentioning that while last week’s figures mark a 13% decline from the previous week’s $181 million, they are still substantially higher than the $93 million recorded in the first week of November.

To put things simply, the NFT sales volume has jumped by around 70% on a month-to-date basis.

Data from CryptoSlam

Source:

 

CryptoSlam

 

According to the data aggregator,

 

Ethereum

 

remained the dominant chain in the NFT market, with $49 million added to the weekly sales tally.

Ethereum was followed closely by Bitcoin, with $43 million after a 29% decline.

Solana And Other Major Chains Show Up

Ethereum remained the undisputed champion in terms of overall sales.

However, Solana also took the spotlight in terms of buyer base. The

 

blockchain

 

network saw over 185,000 NFT buyers in the past week alone.

For context, this marks an impressive 58% increase from the previous week, when it saw 117,000 buyers.

In essence, if CryptoSlam’s data is anything to go by, Solana is becoming more appealing to both collectors and investors.

Blockchains ranked by sales volume

Source:

 

CryptoSlam

 

Other major players, such as Polygon, Mythos Chain, Immutable, and BNB Chain, also stepped in, with nearly $40 million in weekly sales.

Through it all, the average transaction value across all networks dropped slightly, from around $133.08 to $126.17.

November Outshines Q4 Months

In terms of monthly momentum, November is already beating October in terms of sales volume.

This is especially interesting, considering the bullish tone of the general crypto market.

According to data from CryptoSlam, while October saw around $356 million in NFT sales (around 20% more than September’s), November is currently ahead and could beat October if it keeps up this momentum.

Global sales volume on CryptoSlam

Source:

 

CryptoSlam

 

To put things into perspective, the global trends across Ethereum’s consistent sales volume and Solana’s growing buyer activity show that the NFT ecosystem is becoming more and more robust.

Big Players Propel NFT Adoption

The NFT landscape is primed to grow even further towards the end of the year.

In November alone, FIFA collaborated with Mythical Games’ partnership to launch FIFA Rivals.

Fifa Rivals, for context, is a first-of-its-kind soccer game powered by blockchain technology.

New incoming NFT game from FIFA

Source:

 

Twitter

 

The game is scheduled for release in 2025 and will allow players to manage teams or compete in real-time gameplay.

This game is reportedly powered by the Mythos blockchain and secured by Polkadot.

It is also speculated that it will attract over 100 million gamers from FIFA’s global fanbase.

The NFT market might have only just begun its boom.

McDonald’s Embraces NFTs with Doodles Partnership

Another major player with big announcements in November is McDonald’s, which teamed up with media franchise Doodles.

This partnership is geared towards the launch of its “GM Spread Joy” campaign, in which limited-edition McCafé cups with Doodles-inspired artwork will be accessible via the McDonald’s app.

In an effort to bridge the physical world with the digital, users can also purchase digital wearables and animated content.

A Positive Outlook for NFTs

Source:

 

Twitter

 

The sustained interest in NFTs, along with these major collaborations, means that a bright future is incoming for digital collectibles.

Sheer interest from investors in NFTs from major chains like Ethereum, Bitcoin, Solana and Polkadot shows the power of this sector to improve many other industries.

With November about to close on a high note, the market appears well-positioned to turn up further opportunities in the months ahead.