NFT Digest 43, January 2025
Recap 2024
- X (ex Twitter) has removed support for NFT PFPs.
- Debut of the ERC-404 standard - with the first token called $PANDORA. Another attempt to solve the problem of liquidity of low-liquid assets. The explosion of interest was powerful but short-lived, but nevertheless the market adopted the standard, which migrated to different networks.
- New SPL-404 NFT standart on Solana
- Launching dedicated for NFTs Mint Blockchain and collections bounded Apechain (BAYC ecosystem), Abstractchain (Pudgy Penguins), Animechain (Azuki).
- NFT collections issued tokens: Doodles creator @poopie launched Poopcoin ($POOP), Pixels launched $PIXEL , Moca - $MOCA, MetalCore - $MCG token, Pudgy Penguins - $PENGU , Milady CULT Coin Finally Launched
- Magic Eden Marketplace launched their $ME token, OpenSea teased the launch of an $OCEAN token.
Blockchains
Solana leads by Users more than two times ahead of Polygon.
but Bitcoin by trading revenue
Ethereum is still the volume leader, but its dominance is declining and the battle for 2nd and 3rd place between bitcoin and Solana is intensifying
However, in terms of royalty payments, Solana is ahead of Ethereum and together they have over 80% market share.
Polygon, Base, Ethereum lead in number of unique collections in 2024.
Note that the newly created Apechain has taken market share from Polygon and to a lesser extent Solana.
Marketplaces
In 2024, Magic Eden leaves no doubt about leadership.
Some gain in Opensea's position is probably due to the expectation of a drop.
Overall, the number of users dropped noticeably over the year, perhaps they have migrated to memcoins.
Magic Eden has an even more impressive advantage in trading revenue.
Blur with Ethereum takes the top spot,
although during the year its leadership was challenged by other platforms.
Magic Eden collected the most royalties as well,
in May and June, his advantage was overwhelming.
However, Opensea succeeds in keeping the leadership in terms of new collections. Probably it has been a leader for too long and has formed a habit of using the service among users.
Collections
Cryptopunks is the highest sale price leader of the year.
The largest mints belong to financial NFTs:
- Aerodrome DEX Liquidity position NFT
- Pandora ERC404 collection
- Vaults by Fluid
- Pancake DEX liquidity position
- Ether.fi liquidity pool position
Top new collections in 2024
- Runestone is an open source, transparent, volunteer, and decentralized initiative to reward people who participated in the first year of the Ordinals Protocol.
- Liberty cats is a Polygon collection for all-in-one AR gaming app
- RSIC METAPROTOCOL is a 21000 Rune Specific Inscription Circuits.
- Mutantmon. A pioneering hybrid deflationary protocol revolutionizing the NFT landscape on Solana. Creators of SPL-404 NF.T standart.
- Quantum Cats by Taproot Wizards are on a mission to revive Satoshi's beloved pet and scripting function, OP_CAT.
Top collections by volume in 2024 is Pudgy Penguins.
Top collections by trading revenue in 2024 is NodeMonkeys, a unique collectible Monkes on every bitcoin node. First Ordinals 10k.
Top collections by trading royalties in 2024 is Mad Lads, who made history by becoming the first brand to successfully implement executable NFTs (xNFTs).
Top collections by traders in 2024 is Deez Nuts, TinySPL, the first rent-free token standard on Solana.
Standarts
ERC721 Non-Fungible Token Contracts Deployed by chains. Base is dominate and Polygon have a nearly constant contracts.
The ERC1155 situation is more volatile. The dominance of Optimism in August, disappeared by the end of the year. Zora was in the lead in the second half of the year, but in the third quarter lost to Base and Polygon.
Polygon is the most popular network for the semi-fungible token standard ERC3525. However, Arbitrum and Optimism took the same share in December.
Polygon and Avalanche lead the way with ERC5192 Soulbound token standard contracts.
Base is the most used network for running ERC298 standard for NFT royalty.
Polygon is the most used chain for deploying ERC6551token Bound Accounts.
Developer report
Electric capital analyzed 902 million code commits across 1.7 million repositories to create the 2024 Developer Report. The community contributing to the report has grown 24x since 2019 with 339 people contributing in 2024. The report includes data from StablePulse.org, NFTPulse.org, and CodeSlaw.app, three of Electric Capital's public goods.
Most deployments happen outside Ethereum.
Minting volume ATH in 2024
Minters distribution
Top Minted NFT in2024
NFT trading activity last year.
Minting activity peaks late in the North and South America workday, and early in the Asian workday.
News
Telegram's latest update allows users to turn collectible gifts into non-functioning tokens (NFTs), allowing them to be traded and owned on blockchain platforms. When you enhance a gift, it unlocks a new look from dozens of options created by Telegram artists. Collectible gifts also receive a random set of secondary attributes, including background color, icon, and number.
Transak’s fiat-to-crypto infrastructure is now live on Ronin, offering users a seamless way to purchase NFTs and other tokens directly with fiat currencies using credit cards, debit cards, and various localized payment methods.
A collection of non-fungible tokens backed by President-elect Donald Trump has issued its first 160 items, ‘Trump Bitcoin Digital Trading Cards’ in Bitcoin (BTC) using the Ordinals protocol. The collection used ‘alpha satoshis,’ the first satoshi of the bitcoin block. Prices for a position on Magic Eden currently start at 0.175 BTC.
South Korea’s Jeju Island plans to issue an NFT-linked tourist cards, which will first undergo a trial before a slated full rollout in the second half of 2025, will offer travel subsidies and discounts on tourist spots around the island.
Jeju is South Korea’s largest island and a tourist hotspot known for hiking trails and resorts.
- Azuki Community. 37.5% of tokens are reserved for use by the Azuki community. Any tokens remaining unclaimed after the application period will go to Community Cultivation.
- Community Cultivation. 13% of the total tokens will be managed by ANIME holders through the future AnimeDAO to fund community incentives and initiatives.
- Domain Expansion. 24.44% of the total tokens are allocated to the Animecoin Foundation, which serves as a dedicated organisation to facilitate the growth of the ecosystem. These allocation funds grant programmes, the startup, the ongoing operations of the foundation and initiatives aimed at bridging the gap between Animecoin and the anime industry as a whole.
- Partner Communities. 2% of the total tokens are reserved for use by the Hyperliquid community (HYPE stakers), Kaito yappers, Arbitrum communities, and anime communities that are aligned with the Animecoin concept.
- Team and Advisors. 15.62% of the total tokens are distributed to Azuki employees, contractors and advisors who are early contributors to Animecoin.
- Company. 7.44% of the total tokens are allocated to Azuki as a regular contributor and supporter of Animecoin.
Indian Railways will be issuing NFT tickets for India's premier pilgrimage festival MahaKumbh Mela. On 13 January, blockchain company Chaincode Consulting announced a partnership with the Indian Railway Catering and Tourism Corporation (IRCTC). The NFTs will be minted on the Polygon blockchain and made available through the real-world asset (RWA) and tracking platform NFTtrace.
Analytics
Unique Network’s 2024 Highlights
NFT XCM Proposal and achievements. Late last year, Unique Network announced Cross-Chain NFTs. It brings the ability to transfer NFTs between projects and parachains on Polkadot. Main Milestones.
Achieved the fastest NFT mint, surpassing records by Polygon and Solana — minting 100,000 NFTs in less than 19 minutes!
- Forecasted Speed: 4930 NFTs per minute
- Actual NFTs minted: 100,000 in 18 min 42 seconds
- Approximate minting speed — across 3 batches: 5347.59 NFTs per minute.
10 000 players in DED MINE Game minted over 300,000 Nested NFTs.
The CodeCraft Grant Fund received over 100 applications, showcasing advanced NFTs.
The Cross-Chain NFTs Think Tank launched. It offers more valuable and thoughtful use cases, new ways to use cross-chain NFT and aims to set the groundwork by establishing Polkadot as the leading ecosystem for interoperable NFTs.
The beginning of the NFT journal, opening up the NFT2.0 perspective, which expands NFT interoperability through interchain transfers, liquidity management, and programmability.
Partnering with TapNations on the Reward Mode project. TapNations is a mobile game publisher with over 1 million gamers that is set to redefine the mobile gaming experience and change the technology landscape by leveraging Web3 technology to seamlessly integrate into mobile games.
Winning the 63rd Polkadot Parachain Auction. The Network will stay as a Parachain for another 2 years.
Launching NFTMozaic, an alliance and hub on Polkadot for all things NFT and project collaboration.
AI Meets NFTs
GameGPT has announced the launch of its Genesis AI collection of 6,000 NFTs that offer owners the ability to upgrade these digital assets to interactive AI Agents. These agents can:
- AI Game Builder will turn text prompts into video games, reducing development time and cost.
- Collaborative creation is suitable for teams and individual users, with no coding skills required.
- Upgradable agents capable of interacting with social networks and performing game actions on behalf of the owner.
- Execute blockchain transactions autonomously.
- Learn to play games created on the GameGPT (or other) platform.
Over 500,000 social media followers, $11.5 million raised to date, and partnerships with leading companies such as Animoca Brands, CoinFund, Polygon, Merit Circle, Hivemind, Republic Ventures, Placeholder Ventures, and Liberty City Ventures.
Market
Disclaimer. To date, analytical tools are still evolving and provide only approximate data that do not cover all chains, DAG systems and other types of distributed ledgers, as well as NFTs or less common types, such as utility or financial.
NFT Marketcap is over $27 billions.
NFT Sales Volume is over $755 millions.
Total Sales is 1,754,881.
More all users are on Solana, and there is a constant battle for places 3 through 6.
Trading revenue has more than halved in a month.
Chain volume has decreased.
Royalties has decreased.
For the first time in a long time, more unique collections are on Ethereum.
Magic Eden flipped OpenSea again. The increase in users at the end of the month is apparently due to support for the newly launched Abstraсt network
Opensea flipped Magic Eden again. Blur jumped into 3d place.
Blur is a leader by volume.
but Magic Eden has more royalties.
Opensea has most unique collections
Cryptopunks was top trading collection last month.
The entire top is made up of DeFi NFTs.
Wealthy Hypio Babies are a cultural virus born from the Remiliasphere and bridging to the Hyperliquid EVM on launch.
Blockchains by NFT Sales Volume. Ethereum is a volume driver for NFT market. Falling on almost all networks and only Base is going against the trend.
With the launch of the Anime chain Azuki attracts the most attention.
All L2 NFT transaction count in this month. Immutable X is still the undisputed leader.
NFT lending stats
NFT Lending TVL for all chains in December.
Top-10 NFT lending protocols.
Ethereum NFT Lending Analytics
