On-Chain Data Reveals Bitcoin-Backed NFTs Achieve Unprecedented $881,223,753 in Sales during December
Bitcoin Non-fungible tokens (NFTs) experienced a surge in sales during the month of December, as per on-chain data. Data collected from blockchain data aggregator CryptoSlam revealed that BTC NFT sales reached an impressive $881 million, setting a new record for 2023. This surpasses the previous record of $375 million set just the month before. Blockchain reporter Colin Wu noted that December marked the highest sales month to date for NFTs built on the Bitcoin blockchain. Cryptoslam reported that NFT sales on the Bitcoin chain reached $881,223,753.92 in December 2023, with 111,713 buyer addresses and 98,744 seller addresses, both marking the highest records for a single month. Bitcoin NFTs, also known as Ordinals, enable the attachment of unique data, such as images or videos, directly onto individual satoshis, which are the smallest units of Bitcoin. The CEO of cryptocurrency exchange OKX recently expressed consideration for listing more Bitcoin pairs, as the market capitalization of BRC-20 tokens rose by 30% in a single day. OKX CEO Star Xu stated in a recent thread that he has been urged to list more ordinals on the crypto exchange, but expressed concern that doing so would “destroy the market.”