Ethereum NFTs drive weekly volume to $304M, NFT promoters face fraud charges: Nifty Newsletter
Ethereum NFT collections surged, driving weekly sales volumes above $300 million.
In this week’s newsletter, read about how Ethereum-based non-fungible tokens (NFTs) drove weekly sales volumes to more than $300 million as collections like Pudgy Penguins and Azuki surged. Meanwhile, two 23-year-olds were accused of performing a series of rug pulls using NFT projects and other digital assets. Also, check out Cointelegraph’s NFT recap 2024 to review the year’s trials and major events in the NFT space.
NFT collections based on Ethereum drove weekly sales volumes to over $300 million as NFTs surged in December. In the week leading to Dec. 21, Ethereum NFT collections like Pudgy Penguins, LilPudgys, Azuki, Doodles and CryptoPunks dominated the NFT sales charts.
Because of the sudden volume surge driven by Ethereum-based digital collections, NFT sales in December reached $678 million in just 21 days. December’s sales surpass the previous month’s record of $562 million. At the time of writing, NFTs had reached a sales volume of $771 million in December.
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Author: Ezra Reguerra
