Ethereum NFTs drive weekly volume to $304M, NFT promoters face fraud charges: Nifty Newsletter

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. 

Ethereum NFT collections drive weekly volume to $304M

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…