Gross sales of NFTs on the Bitcoin (BTC) community reached a brand new milestone in December 2023, surpassing $881 million for the primary time ever.
In accordance data by CryptoSlam, NFT gross sales on the Bitcoin chain reached $881,223,753.92 final month, setting the best single-month gross sales file up to now.
This included 111,713 purchaser addresses and 98,744 vendor addresses, each setting the best single-month data up to now.
Bitcoin NFTs, also referred to as Ordinals, are a brand new sort of NFT that exists on the Bitcoin blockchain.
Not like conventional NFTs that are principally related to the Ethereum blockchain, Bitcoin NFTs are distinctive in that they’re inscribed instantly onto particular person satoshis, the smallest unit of a bitcoin.
Extra particularly, every Bitcoin is divisible into 100 million satoshis. Bitcoin NFTs are created by inscribing knowledge onto these satoshis.
This course of is akin to engraving a tiny piece of knowledge onto a small fraction of a Bitcoin.
Ethereum and Solana Path Behind
Ethereum, the second-largest blockchain, trailed behind with NFT gross sales totaling $364.79 million.
BTC-focused NFT gross sales outperformed ETH’s by a major margin, being 2.34 instances better in December.
Solana secured the third spot with roughly $325.14 million in NFT gross sales, experiencing a exceptional 312% improve from the earlier month.
Following the highest three, Polygon and Arbitrum emerged as the next main blockchains when it comes to NFT gross sales.
Notable NFT Gross sales of December
The head of December’s NFT transactions featured the sale of a digital copy of Vincent Van Gogh’s famend Self-portrait, 1888 (Van Gogh’s portray #216), which commanded a powerful worth of $1.19 million.
One other notable sale came about on Ethereum, with the Frxethredemption Ticket #33 fetching $638,433 this month.
Regardless of a current decline in NFT gross sales, dropping over 35% from the earlier week, December witnessed a record-breaking $1.7 billion in NFT transactions.
This marked a major improve of greater than 69% in comparison with November’s figures, with Bitcoin persevering with to dominate NFT gross sales throughout numerous blockchains.
BTC-based NFT gross sales soared 127.63% above the chain’s November totals, as reported by cryptoslam.io statistics.
Different notable high-value NFT gross sales in December embrace Cardano’s Deep Imaginative and prescient #05128, which fetched a powerful $551,750, and BNB’s Lockdealnft #91, garnering $329,824.
Solana’s Boogle #009 accomplished the listing of December’s 5 most costly NFTs, promoting for $274,209.
Out of the highest ten NFT collections when it comes to gross sales, seven have been derived from the Bitcoin blockchain.
Solana’s Tensorians secured the fifth place, whereas the Mad Lads assortment held the eighth spot.
Arbitrum’s Sentry Node assortment claimed the ninth place in December.
All through the month, a complete of 11,290,812 NFT transactions came about, involving 469,389 sellers and 600,744 NFT patrons.
As reported, previous to December, NFT buying and selling quantity surged by $99 million, reaching $405 million in October, signifying ranges of gross sales not seen since August.