CoinGecko NFT Market Report For Q1 2024

On May 8, 2024

Join Our Telegram channel to stay up to date on breaking news coverage

The non-fungible token market has experienced mainstream adoption this year marked positive gains in sales volume in the first quarter of 2024, according to a CoinGecko Q1 2024 NFT report. In this article, we shall explore this surprising analytic Q1, 2024 report in-depth.

CoinGecko 2024 Q1 Crypto Industry Report is now LIVE 📊
After a strong 2023 Q4, the total crypto market cap continued rallying by 65% in 2024 Q1, reaching a high of $2.9T in March.
Here are 7 key highlights you shouldn’t miss ⬇️ pic.twitter.com/WG0CP3dIFb
— CoinGecko (@coingecko) April 17, 2024

Data compiled by coingecko.com, an on-chain crypto market aggregator and a multi-chain non-fungible token explorer, found that the non-fungible token trading sales volume across the top ten NFT market platforms surpassed the $4.7 billion mark, with one of the biggest multi-chain NFT marketplace, Magic Eden, taking the lion’s share. Below, we have listed the ten 10 NFT market platforms by trading sales volume:

Source: coingecko.com, top 10 NFT marketplaces in Q1,2024

1. Magic Eden NFT Marketplace

Magic Eden was the most-traded NFT marketplace in the first quarter of 2024. The NFT market platform amassed $163 million in January, $256 million in February and $756 million in March. Magic Eden recorded a trading sales volume of over $1.7 billion in the first three months.

2. Blur NFT Market Platform

Blur was the second most-traded NFT marketplace in the first quarter of 2024. According to the coingecko.com report, Blur NFT marketplace recorded a trading sales volume of $500 million in January, $502 million in February and $530 million in March. In the past three months, the NFT marketplace recorded a trading sales volume of over $1.5 billion.

3. OKX NFT Marketplace

OKX, a non-fungible token marketplace from the crypto exchange OKX, was the third most-traded NFT marketplace in Q1, 2024. The OKX NFT marketplace recorded a trading sales volume of $262 million in January, $143 million in February and $182 million. The OKX NFT marketplace recorded more than $588 million in the past three months.

OKX NFT Marketplace, which dominated Bitcoin NFT trading volume in 2023, saw its volumes plunge by -73.3% from $0.68 billion in December 2023 to $0.18 billion in March 2024. Bitcoin’s NFT trading volume shifted to other NFT platforms, such as the Magic Eden and UniSat. OKX’s market share stood at 9.5% in March 2024.

4. Tensor NFT Marketplace

Tensor was the fourth most-traded NFT market platform in Q1 2024. According to the research, the NFT marketplace, Tensor, recorded a trading sales volume of $184 million in January, $166 million in February and $134 million in March. For the three months, Tensor recorded a trading sales volume of $484 million.

5. OpenSea NFT Marketplace

OpenSea was the fifth most-traded NFT Marketplace in Q1, 2024. According to the analytic report, the NFT marketplace attracted a trading sales volume of $146 million in January, $149 million in February and $161 million in March 2024. In the past three months, the OpenSea NFT marketplace saw over $457 million settled on it.

6. UniSat NFT Marketplace

UniSat was the sixth most-traded NFT market in the first quarter of this year (Q1, 2024). UniSat recorded a trading sales volume of $14 million in January, $52 million in February and $73 million in March. For the three months, the UniSat NFT Marketplace recorded a trading sales volume of more than $139 million.

7. CryptoPunks NFT Marketplace

CryptoPunks was the seventh most-traded NFT market platform in Q1, 2024. According to coingecko.com’s exclusive NFT report, the NFT marketplace recorded a trading sales volume of $33 million in January, $21 million in February and $59 million in March. The NFT marketplace recorded a trading sales volume of $113 million for the past three months.

8. MOOAR NFT Marketplace

MOOAR was the eighth most-traded NFT marketplace in Q1, 2024. In January 2024, the NFT marketplace recorded a trading sales volume of $96 million, $12 million in February and $4.8 million in March. For the three months, the Mooar NFT marketplace recorded a trading sales volume of $112 million.

9. X2Y2 NFT Marketplace

X2Y2 was the ninth most-traded non-fungible token market platform in Q1, 2024. The NFT market platform recorded a trading sales volume of $9 million in January, $11.4 million in February and $9.4 million in March. For the three months, the X2Y2 NFT marketplace recorded a trading sales volume of around $29.8 million.

10. Ordinal Wallet NFT Marketplace

Ordinal Wallet was the tenth most-traded NFT marketplace in Q1, 2024. According to the analytic report, the Ordinal Wallet amassed a trading sales volume of $9.5 million in January, $8 million in February and $7.8 million in March 2024. For the three months, the Ordinal Wallet raised a trading sales volume of $25.4 million. The top 10 NFT marketplaces amassed a trading sales volume of $4.7 billion.