The Bitcoin network has climbed to a higher rank in the historical non-fungible token (NFT) sales standings, overtaking the Ronin blockchain, which previously held the third-highest spot for all-time NFT sales. According to NFT data tracker CryptoSlam, Bitcoin-based NFTs achieved an all-time sales volume of $4,271,928,280 on June 18. This surpasses the Ronin blockchain’s record of $4,271,675,550, moving Bitcoin into the top three leading blockchain networks for NFT sales, following Solana and Ethereum.
In the past 30 days, Bitcoin-based NFTs generated a sales volume of $148 million, securing the top two positions for the month. Ethereum took the lead with a volume of $157 million, while Solana followed closely with around $77 million. Despite the significant sales figures, NFTs experienced a decrease in volume, with the top three chains showing a minimum 40% decline in 30-day sales, as reported by CryptoSlam.
Jeff Zirlin, co-founder at Sky Mavis, the team behind the Ronin network, expressed that more NFT adoption is beneficial. Zirlin mentioned that they have been focusing on blockchain gaming ecosystems rather than Bitcoin. He highlighted that gaming is currently undergoing an evolution, with previous strategies showing diminishing returns due to rising user acquisition costs. Zirlin emphasized the potential of Web3 in creating longer-lasting games through incentive alignment with the core audience and ownership-based revenue models.
On June 4, data from CryptoSlam revealed that Bitcoin-based NFTs reached $4 billion in all-time sales volume. The data included $3.97 billion in NFT sales and over $80 million in wash sales. Despite this achievement, the broader NFT market experienced lower sales volumes, with a 54% decline in monthly NFT sales volume in May compared to April. In April, NFTs saw over $1 billion in sales, while the digital collectibles industry recorded a volume of $624 million in May.
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