In a span of four months beginning on February 7, 2023, Bitcoin’s non-fungible token (NFT) sales on its blockchain surged to a remarkable $463.68 million. This surge has catapulted Bitcoin to consistently rank second in terms of monthly NFT sales. Despite its rapid climb in the last four months, Bitcoin’s overall NFT sales are still behind seven other blockchain networks.
Bitcoin’s NFT Market Accelerates, Ranking Eighth Among Leading Networks
Ethereum has long maintained supremacy in NFT sales, but Bitcoin has been gradually ascending the ranks among the twenty-two blockchain networks in terms of NFT transactions.
As per data compiled by cryptoslam.io, among the 22 blockchain networks reporting NFT sales, Bitcoin is presently the eighth largest. It is notable that Bitcoin’s NFT sales data was initiated on February 7, just 148 days prior, while several other blockchains have a more extensive NFT sales history.
Top Ten Blockchain Networks in Total NFT Sales
Bitcoin’s total sales volume is still surpassed by several notable chains, including Ethereum, Ronin, Solana, Flow, Polygon, Cardano, and Wax. Sales from the Wax blockchain alone exceed Bitcoin’s cumulative figures by $25.59 million.
Bitcoin’s sales picked up steam about 119 days ago, around March 8. Although no Bitcoin-based NFTs have made the top ten list of most expensive NFT sales, a Bitcoin-originated NFT has secured the 11th position, having sold for $4.7 million three months back.
Total Bitcoin-based NFT Sales Since Feb. 7, 2023
Moreover, the BTC-based NFT, Space Pepe #8,253, clinched the 12th spot, with a remarkable sale price of $4.56 million just two months ago. Bitcoin NFTs also hold the 13th and 14th positions for the highest-grossing NFT collectible sales ever.
BTC Artifacts TNT #20,817 sold for $4.48 million three months ago, and an Uncategorized Ordinal garnered $4.45 million two months prior. Another Uncategorized Ordinal holds the 20th position among the most valuable NFTs ever sold, with a price tag of $3.83 million three months back.
It’s noteworthy that while other high-value digital collectibles from different blockchains in the top 20 were sold one to two years ago, the high-value Bitcoin NFT sales happened more recently. In terms of collections, Bitcoin ranks lower with the Uncategorized Ordinals collection holding the 27th position in all-time stats.
Ronin leads the pack, securing the top spot, while Flow holds a commendable fifth position. The remaining 24 collections below the 27th position are all Ethereum-based NFT collections. Even though Bitcoin blockchain sales have captured recent interest with a total of $463.68 million in cumulative sales, they are still dwarfed by Ethereum’s astounding $43.68 billion, Ronin’s $4.2 billion, and Solana’s $4 billion in NFT sales.
What’s your take on Bitcoin’s meteoric rise in NFT transactions? Do you think it can eventually match Ethereum and other leading blockchains? We invite you to share your thoughts and views on this topic in the comments section below.
Frequently Asked Questions (FAQs) about Bitcoin NFT Sales
How much have Bitcoin NFT sales reached in the last four months?
From February 7, 2023, Bitcoin’s non-fungible token (NFT) sales have surged to a remarkable $463.68 million.
How does Bitcoin rank in terms of NFT sales among other blockchain networks?
As of the data compiled in mid-2023, Bitcoin currently ranks eighth among the twenty-two blockchain networks reporting NFT sales.
Which blockchains outpace Bitcoin in terms of total NFT sales volume?
As of mid-2023, Ethereum, Ronin, Solana, Flow, Polygon, Cardano, and Wax surpass Bitcoin in terms of total NFT sales volume.
When did Bitcoin’s NFT sales gain significant momentum?
Around 119 days after the initiation of Bitcoin NFT sales data recording, on March 8, 2023, Bitcoin’s sales gained substantial momentum.
What is the most expensive Bitcoin-based NFT sold to date?
As of mid-2023, the highest-priced Bitcoin-originated NFT sold fetched $4.7 million, securing the 11th position in the most expensive NFT sales.
More about Bitcoin NFT Sales
- Non-fungible tokens (NFTs)
- Bitcoin Blockchain
- Ethereum and NFTs
- Understanding NFT sales and collections