Bitcoin is Now the Second Most Popular Blockchain for NFTs

Bitcoin NFTs have swiftly climbed the ranks in the world of non-fungible tokens, securing the second spot for NFT sales per blockchain in the past 30 days, as indicated by CryptoSlam.

Bitcoin is Now the Second Most Popular Blockchain for NFTs

Bitcoin NFTs have swiftly climbed the ranks in the world of non-fungible tokens, securing the second spot for NFT sales per blockchain in the past 30 days, as indicated by CryptoSlam, a Web3 data platform. What makes this achievement even more noteworthy is the fact that Bitcoin NFTs were virtually non-existent until Bitcoin Ordinals emerged earlier this year. Over the last thirty days, Bitcoin NFTs have amassed an impressive $167 million in gross sales. Although this figure falls short of Ethereum's staggering $397 million, Bitcoin's NFT sales are nearly three times larger than those on the Solana network, which have reached approximately $57 million.

The Ordinals Protocol has played a pivotal role in Bitcoin's rapid ascent to prominence in the NFT arena. This mechanism allows for the inclusion of data, such as a JPEG, onto satoshis, the smallest unit of bitcoin. Despite facing some criticism within the Bitcoin community, the Ordinals Protocol received a significant boost when NFT giant Yuga Labs launched their own Ordinals-based collection in February. This move injected enthusiasm and capital into the adoption of Bitcoin NFTs, further propelling their growth.

Among the Bitcoin-based NFT collections, CryptoSlam reports that Bitcoin Frogs currently reigns supreme. This captivating collection has generated a substantial $6.3 million in sales over the past week alone.