2024 is almost over. At the end of 2024, Magic Eden’s token $ME airdrop and ETH’s “old blue chip” collective recovery, especially the sun-drenched airdrop of Pudgy Penguins’ token $PENGU, have made NFT a long-awaited wealth effect. gained market attention.

What kind of year has it been for NFTs? Rhythm BlockBeats reviews the NFT market over the past 12 months for you. After reviewing the NFT market in 2024 with us, how would you rate the performance of the NFT market in 2024?

January: The world is divided into three parts, and the end of the "hexagonal avatar"

In December 2023, the total monthly trading volume of Solana NFT With approximately $365 million, it completed a slight surpass of Ethereum’s approximately $363 million. Looking back, this was the beginning of the NFT world dominated by Ethereum, Solana and Bitcoin (Ordinals). Although at the end of the year, Ethereum has once again proved that it is still the current king chain in the NFT field through its absolute monopoly on the top market value NFT projects and the volume of players. However, if the time goes back to January this year, 2024, the NFT market We have to spend this whole year in a situation where the world is divided into three parts.

Ethereum NFTs kicked off the year with “retro Mickey Mouse.” Because U.S. law only allows for 95-year copyright ownership, in January this year, the copyright of the old version of Mickey Mouse was no longer owned by Disney and became available to the public. So we saw “Mickey Mouse” dominating the rankings on OpenSea.

But then, there was bad news - Twitter canceled the use of NFT as Twitter Avatar function. This seems to be telling us that except for Crypto players, no one in the world cares whether an avatar is worth 10 yuan or 100,000 yuan. Anyway, do you remember this "hexagonal head"?

This month’s star new projects include:

Pizza Ninjas (Bitcoin Ordinals), another Tier 1 project in the Bitcoin ecosystem was born.

RSIC (Bitcoin Ordinals), Before the launch of Rune Protocol, the most popular pre-mined rune NFT series was quietly airdropped, and rune pre-mining became popular.

Tinfun (Ethereum, later migrated). to Blast), the Chinese power recasts the glory of the Ethereum main network

ittybits (Ether Inscription), the 10 times opportunity in the niche track, drives the entire Ethereum Inscription small. The rise of pictures, but unfortunately there is no follow-up

CryptoUndeads (Solana), Cabal made a lot of money after pre-sale.

February: ERC-404 "Pandora's Box", Yuga Labs acquires "Moonbird"

"Coin-in-one" concept. Shining brightly in early February, ERC-404’s first project “Pandora’s Box” was the absolute star without a doubt, having soared nearly 30 times.

At that time, we had this idea——

ERC-404 directly creates a "symbiotic relationship between graphics and currency", which can not only be traded on CEX, but also subvert existing NFTfi products. As long as oracles are introduced, native NFT leverage based on ERC-404 will be easy (directly open long and short on ERC-20 Token), and direct borrowing will also be easy, and it is no longer a matter of saving small pictures to a specified address. , can be operated directly based on ERC-20 Token.

But now, this idea has not been realized. Instead, it was the Hybrid "graphic-coin hybrid" model that became popular on Solana, that is, the rise of meme coins drove the community cult. The NFT series of attributes have risen, showing the effect of the double helix of liquidity.

In February, Yuga Labs announced the acquisition of the Moonbirds development teamPROOF, with top NFT IP/projects such as CryptoPunks, BAYC, MAYC, BAKC, "Monkeyland" Otherdeed, Meebits, Moonbirds, etc., has become an NFT "Big Mac". At that time, our point of view was -

Yuga Labs is no longer cool, and there may not be much time left for Yuga Labs to think about this. A race against the bull market.

Now it seems that the attention and excellent market performance received by Pudgy Penguins and Doodles at the end of the year provide evidence for this view.

This month’s star new projects include:

Quantum Cats (Bitcoin Ordinals), Although the selling price of 0.1 Bitcoin at the time caused some disagreement in the market, the current price of 0.3 Bitcoin has made the project's status as a blue-chip Bitcoin NFT undisputed.

March: Blast mainnet goes online, Runestone airdrop triggers rune craze

Blast mainnet goes online on March 1st, kicking off March NFT market's "first One shot". But overall, the lively scene this month is Bitcoin Ordinals.

The first is the concept of "DMT (a concept, from which a generative art based on Bitcoin block data)" started at the end of February rise. As a leader in the DMT concept, Natcats set a single sales record of 1.3 Bitcoins before any Bitcoin NFT trading market was listed.

Then there was the Runestone airdrop that took place in mid-March. This huge airdrop included With more than 112,000 Bitcoin addresses, it became the NFT series with the third largest market value among all chains in just two days. It was also the precursor to today’s #1 rune, $DOG.

Runestone Airdrop BitThe influence of the Bitcoin ecology is far-reaching. "Free, fair, big truck", these three keywords have become the criteria for judging whether the Bitcoin Ordinals ecological project is excellent for a long time this year.

Meanwhile, on Solana, Mad Lads reached their peak this month, with holders happily awaiting the arrival of their Wormhole airdrop.

Overall, it has been a lively month, but there is still depressing news. Starbucks' NFT loyalty reward program "Starbucks Odyssey" on Polygon announced that it would be shut down at the end of this month, and Kevin Rose also caused controversy for selling a bunch of small pictures.

This month’s star new projects include:

Runestone (Bitcoin Ordinals), Runestone The legend of literature begins with this stone.

CENTS (Bitcoin Ordinals), 10,000 penny coins that were smelted and put on the chain, have become the art series with the highest market value of Bitcoin.

Plutocats (Blast), much like the "Nouns" on Blast, have soared due to receiving much higher Blast Gold allocations than other NFT projects.

Crypto Valley (Blast), this farming game released 1,500 free "farmer" characters at the time, which caused FOMO for a while, but no one has paid attention to it.

April: Bitcoin ushered in halving, Base NFT has grown

Among the new star projects in March, in fact, it should also include XCOPY issued on Base The Open Edition series "MUTATIO" sold 1,023,831 copies during the 2-day casting period, with total sales exceeding 700 ETH.

But what is hot is the Meme token $ launched by the project community in April FLIES is so high thanks to the forwarding recommendation from XCOPY himself.

On the Blast Network, fantasy.top, the friend-buying and selling game, continues to be popular.

Of course, the Bitcoin network is still the most popular. The halved Epic Satoshi was sold at a price of 33.3 Bitcoins, and an Epic Satoshi rune was born. It seems that everything in the Bitcoin ecosystem is stabilizing and improving, but in the end, this epic Satoshi did not allow players to get much good returns, and it was even a failure...

This month’s star new projects include:

Blob (Bitcoin Ordinals), self-funded airdrops, all-star lineup opening, and taking the lead in winning The epic. Just when everyone was expecting a new Bitcoin blue chip to appear as a generative art, it collapsed due to a series of cunning operations and a hand of Tianhu. This might be one of the most disappointing Bitcoin NFT investments of the past year.

Prometheans (Bitcoin Ordinals), the CyberKongz team’s first attempt to come to the Bitcoin ecosystem was a successful airdrop, but then they launched the PFP series Sales failed, and then the No. 2 rune DECENTRALIZED was dropped and left the Bitcoin ecosystem.

May: The beginning of the transition to desertion

Starting from this month, NFT in 2024 began to enter a relatively deserted stage.

There is really not much to say this month from the degen level of fighting on the chain. The news is basically stuff like Pudgy Penguins toys making their way into the stores of US retail giant Target, DeGods returning to Solana, and more.

The best performer this month is Milady, bucking the trend and rising.

June: Deserted, miserable

In this month, we saw CryptoPunks below 30 ETH. This is the first time since August 2021 that CryptoPunks’ floor price has fallen below 30 ETH.

In addition, Three Arrows Capital spent a total of about 140 ETH in August 2021 and March 2022 to purchase a complete set of gold skins BAYC + 2 MAYC + BAKC, a total of four Yuga Labs NFTs at Sotheby's on June 18. Than the auction. At the peak of NFT, the price of this asset should be more than 1000 ETH. In March, BAYC's floor price once fell below 9 ETH.

It was the darkest moment for NFT. Until the last week of June, the established Ethereum blue chip. NFT projects have rebounded by 24%, BAYC has rebounded by 30%, Pudgy Penguins has rebounded by 50%, and Azuki has rebounded by 24%. The rebound once reached 35%. Solana’s top Mad Lads also rose by 40%, and top Bitcoin projects NodeMonkes and Bitcoin Puppets also rose by more than 20%.

There was another NFT project that became popular due to LayerZero’s airdrop in June, and that was the Kanpai Pandas market for LayerZero. The dissatisfaction with the airdrop spread to this project. There were voices that suspected that the project was a "rat warehouse", but in fact it was not.

At the end of June, Abstract, the now popular "Penguin Chain", also appeared in its new look for the first time. Abstract’s predecessor, Frame, is an NFT Layer2 chain. Since the airdrop pre-claim period was extended on January 30 this year, the official push has fallen into silence. It was not until the end of June that Frame finally made a big move - the chain was acquired by Igloo, the newly established parent company of Pudgy Penguins. At this point, all three brands in the Igloo ecosystem have been unveiled - Pudgy Penguins, on-chain IP authorization platform Overpass, and Frame.

Frame has been rebranded. In addition to changing its name to Abstract, the overall vision has also been upgraded from empowering creators and providing a more convenient and secure NFT user experience to targeting mass consumers and promoting large-scale adoption of Crypto.

Looking back, HanThe fire after winter started to burn from then on. In addition to Abstract, there are also some star new projects in June:

Writ of Passage by The Beacon (Arbitrum), with a total supply of 10,000, casting price 0.115 ETH, enter FCFS sold out 7 minutes after round. Under the market environment at that time, it was really rare to sell 10,000 NFTs at such a price. Of course, this one was sold out mainly because it essentially took out the tokens for pre-sale.

Gigabud (Solana), the public price at that time was 1.25 SOL. As the official PFP of Grass "WiFi Grass", this series not only brought a considerable number of airdrops, but also could be sold at a price of more than 1.25 SOL after the airdrop, which is very comfortable.

End of the year: straight from recovery to fever

The few months I didn’t write in between were not because I was lazy, but because there was really nothing worth writing about. Something happened during these window periods:

Magic Eden confirmed that it would issue coins. Finally, at the end of the year, the airdrop of $ME gave NFT players generous returns. .

Azuki has confirmed that it will issue coins.

NFT has become increasingly popular as a cold start method for many projects since the middle of the year. What was popular at the time was the Free Mint project with a total supply of 1,000 or less, which directly stated that there would be token airdrops in the future. By the end of the year, we saw Kaito on fire.

On the Solana network, the rise of the NFT series driven by the popularity of meme coins has blurred the boundaries between memes and NFTs. The most typical representative is Retardio Cousins.

After the Ape chain became popular for a while, the low price of Mint led to some projects with high multiples, but there was no case that shocked the market in terms of the amount of income. Appear.

Everyone is deeply impressed by what happened at the end of the year. OpenSea’s currency issuance is already on the way, Abstract, Monad, BerachChains such as ain and Story have not issued coins yet, because potential token airdrops have ignited related NFT projects (related reading: What NFTs on public chains that have not yet issued coins are worth paying attention to?). The wealth creation effect of the $PENGU airdrop has caused Doodles, Azuki and even Cool Cats to soar. New star projects are beginning to appear, such as Abstract’s On-chain Heroes and Fukuhedrons on the Bitcoin network.

After the long-awaited spring, only one old blue chip left the market sadly, and that was Clone X. This old blue chip with a Nike background announced that it would cease operations on December 3, which shocked all NFT players just like announcing at the New Year’s Eve dinner that he would never eat again.

Looking forward to the new year, Abstract’s mainnet will be online in January, and new opportunities may also appear for Monad, Berachain, and Story. I just hope that you will not go online. If it is too compact, shunting is unfriendly to degen.

On the basis of the steady improvement of the old blue chip of Ethereum, although it is difficult for Ethereum to have a project that can match the old blue chip (the investment and resources of the old blue chip, It is really hard to imagine that investors will make great efforts to catch up with the old blue chips in the future), but the new narrative may bring new opportunities, such as AI-related NFTs.

More and more currency issuance projects may choose NFT, which is a small amount and easy to control, as a preheating method.

Bitcoin’s NFTs still have room to grow upward.

NFT is no longer the NFT we are familiar with. The content and IP narrative no longer meet the current version standards for screening new projects, "coin issuance" and "conspiracy" "Disk has become mainstream, but it does not prevent us from still discovering high-quality content that we like and love. NFT is still growing.

Maybe the concept of NFT is outdated, but the thing we like to play with has never changed, it has always been pictures.

I have finally finished what I have to say. Now, where would you rate the NFT market in 2024?