NFTs have started to recover, recording a monthly sales volume of $562 million in November.
In this week’s newsletter, read about how non-fungible tokens (NFTs) recorded $562 million in monthly sales volumes and how popular NFT project RTFKT, acquired by Nike in 2021, is winding down its operations. In other news, Yuga Labs has acquired Tokenproof’s tech team to work under its research and development division.
Non-fungible tokens surged by 57% in November, recording monthly sales of $562 million. The November volume was the highest NFT sales recorded in six months. Even though volumes surged, it’s still far from its yearly high. In March 2024, NFT sales volumes reached $1.6 billion before heading downward.
As the NFT markets swelled, the popular NFT collection CryptoPunks saw its floor price rise. CryptoPunks’ floor price went from about 26 Ether (ETH) at the start of November to almost 40 ETH on Nov. 30.
