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, 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…