NFT Sales Experience Modest Surge in November, Indicating Growing Trend

The NFT market has experienced some significant drops since its peaks, but it seems that the recent interest and increase in cryptocurrency values have also helped in this sector. According to data from CryptoSlam, NFT sales in November increased by almost 57.8%, reaching a record value of $562 million in the past six months. In May of this year, the recorded value of NFT sales was $599 million.

Although November saw an increase in NFT sales, these values are still well below the previous peaks recorded in 2022, when it reached nearly $1.6 billion. Since then, values have been falling, with this year experiencing some of the worst numbers since 2021, and with a downward trend. The market has suffered greatly from community disinterest, and although it has slightly improved with the overall increase in cryptocurrency values, it is still far from previous records.

CryptoPunks NFTs, one of the most popular and valuable in the market, saw a 52% growth in values in November, following the market trend. In total, $49 million worth of CryptoPunks were sold, a 392% increase compared to the previous month.

While these growths have been observed, it is still unknown how long they will last. It is expected that sales trends will follow the values of the most important cryptocurrencies in the market, and as these increase, NFT sales may also experience slight peaks.