Last week, the sales of Non-fungible Tokens (NFTs) slightly rose by 1.46% compared to the week before that. All the NFTs sold in this seven-day period were worth around $149 million. But it was still much better than expected because the total amount of NFTs sold actually increased by 31.22%, reaching a total value of $208 million! This sudden leap in purchases can be linked to new tokens created from the Bitcoin blockchain.
Exploring Bitcoin’s NFT Boom
Bitcoin NFTs have become really popular recently, according to data from cryptoslam.io on May 14, 2023. Of the 21 different kinds of blockchains out there, Ethereum is still number one with $111.26 million worth of NFT sales over the past week. But Bitcoin-based NFTs aren’t far behind either – they’re called Ordinal inscriptions and that’s what you need to be watching out for!
Last week, Bitcoin earned the second spot in terms of blockchain sales from twenty-one worldwide chains. It made 53.4 million dollars – a huge jump of 187.54% compared to the last week! The top five blockchains for NFTs (Non-Fungible Tokens) sales were at an all-time high on May 14th, 2023.
The amount of money spent on NFTs made by Mythos blockchain has gone up really high. Last week, it went up a whopping 69.66%, which means $11.73 million worth of NFTs were sold! Because of this crazy jump in sales, Mythos blockchain is now ranked at #3 when it comes to the highest blockchains having the most money from NFT sales.
Solana was the 2nd most popular blockchain for NFT sales, but now it’s down at 4th place. In the last 7 days, Solana had $8 million in sales – 21% less compared to last week. Polygon came 5th with almost $8 million in sales, but that number dropped by 7%.
This week, there was a group of NFT (Non-Fungible Token) collections that made the most sales. This group is called “Uncategorized Ordinals”, which means that each collection includes random tokens that aren’t related to any other specific ones. These collections alone achieved $15.62 million in total sales.
Ethereum’s Bored Ape Yacht Club (BAYC) came in second place this week with $13.80 million worth of sales over the last seven days. The Dmarket collection of Mythos chain took third position, and most of their NFT sales were from Dmarket collection transactions.
This week, ORDI BRC-20 NFTs made the most money with $11,044,110 in sales. The Milady Maker NFT collection from Ethereum came in second with $10,376,102 in sales. But the really big mover this week was Space Pepes on Bitcoin – they suddenly earned an amazing $4,607,834! That’s a jump of over two thousand percent compared to last week!
Recently, an NFT (which is a type of digital asset) sold for an incredible $4.5 million! That made it the priciest sale of the week and even better – the top 5 most expensive sales of the week were all part of the Uncategorized Ordinals category. What do you think about this recent rise in NFTs prices, particularly those that are tied to Bitcoin? We’d love to hear your thoughts and opinions in our comments section below.