The Bitcoin network has moved up one spot in the all-time NFT sales rankings, surpassing the Ronin blockchain, which previously held the record for third highest NFT sales.
On June 18, data tracker CryptoSlam showed that Bitcoin-based NFTs recorded an all-time total of $4,271,928,280 in sales. This figure surpasses the Ronin blockchain’s record of $4,271,675,550, placing Bitcoin in the top 3 blockchain networks in terms of NFT sales, behind Solana and Ethereum.
Over the past 30 days, Bitcoin-based NFTs recorded $148 million in sales. This puts them in second place for the month, behind Ethereum, with $157 million in volume. Solana follows with about $77 million.
Despite sales reaching millions of dollars, NFT trading volume has declined, with the top three chains showing at least a 40% drop in 30-day sales, according to CryptoSlam.
Bitcoin NFTs are still “pristine”
In a statement, Jeff Zirlin, co-founder at Sky Mavis, the team behind the Ronin network, believes that more adoption of NFTs is a good thing. He said that they are not focused on Bitcoin but are competing with blockchain gaming ecosystems. Zirlin said:
“We don’t pay much attention to Bitcoin NFTs because they are still pristine and not related to gaming. In general, more NFT adoption is good and we are competing more with gaming-centric ecosystems.”
Zirlin believes the game is currently in a “state of evolution.” Co-founder Sky Mavis explained that strategies that were previously effective for gaming companies have started to show a decline as the cost of user acquisition increases.
“Web3 offers an alternative path, one that creates longer-lasting games through engine alignment with your core audience and ownership-based revenue models,” Zirlin said more.
Bitcoin NFTs Hit $4 Billion in All-Time Sales
On June 4, data from CryptoSlam showed that Bitcoin-based NFTs reached $4 billion in total all-time sales. This data combines $3.97 billion in NFT sales and over $80 million in laundered transactions.
Despite reaching the new milestone, the broader NFT market recorded lower sales volumes. There was a 54% decrease in monthly NFT sales volume in May compared to April. NFTs saw over $1 billion in sales in April, while the digital collectibles industry recorded a amount of $624 million in May.
Jia Bao Ngoc
The Cointelegraph
