Bitcoin NFTs Hit $5.5B All-time Sales, As Inscriptions Near 100M

Despite the non-fungible token market experiencing fluctuations in the past four years, Bitcoin has solidified its position as a significant player, particularly with the advent of Ordinals and its rapidly growing NFT ecosystem. According to the latest statistics, nearly 100 million Ordinal inscriptions have been minted on the Bitcoin blockchain network, amassing a trading sales volume of more than $5.5 billion.

Bitcoin Secures 3rd Place In The NFT Market

Data compiled by Ordiscan.com, an on-chain ordinals explorer that provides on-chain record analysis services for BTC Inscriptions, Runes, Rare sats, and BRC-20 non-fungible token collections, indicates that the Bitcoin network keeps on solidifying its position in the global NFT market. Since its entry into the NFT market in December 2022, the Bitcoin network has seen nearly 100 million ordinals inscribed on its platform.

Even though the Bitcoin network is not as widely used for NFTs as Ethereum and Solana networks, it has become increasingly relevant since the introduction of the Ordinals protocol, which allows users to inscribe art, images, and files directly on the Bitcoin blockchain network. Bitcoin’s robust security and increasing capabilities have also made it a compelling platform for NFTs. This NFT innovation has given the Bitcoin blockchain a new role in the world of digital collectibles.

Bitcoin Ordinals have gained popularity due to their ability to make each Satoshi, ‘the smallest unit of Bitcoin,’ a unique, collectible asset by attaching data to it, similar to NFTs. Today, Bitcoin stands as the third-largest blockchain network by non-fungible token sales volume, carving out a significant position in the NFT ecosystem. Overall, Bitcoin has steadily cemented its position in the NFT landscape, standing shoulder-to-shoulder with Ethereum and Solana networks.

Bitcoin Hits +$5.5B All-time NFT Sales Volume

Data compiled by cryptoslam, an on-chain crypto market explorer and non-fungible token explorer, shows that Bitcoin-based NFT collections have raised a trading sales volume of $5.4 million since their inception in December 2022. Bitcoin takes the third spot in the global NFT market, standing behind Ethereum and Solana. Solana-based NFT series has raised a trading sales volume of $6.3 billion, while Ethereum-based NFTs have gathered a trading sales volume of $45 billion all-time.

Uncategorized Ordinals, an ordinal collection featuring individual digital assets on the Bitcoin blockchain that haven’t been officially grouped into a collection, leads the pack of BTC-focused NFT series, racking up $478 million in trading sales volume. Trailing behind are NodeMonkes, an ordinal collection featuring a limited edition of 10,000 unique, 8-bit monkey-themed digital artworks inscribed on the Bitcoin blockchain using the Ordinals protocol, with $319 million.

Other leading NFT collection in the Bitcoin NFT market includes, Runestone, an NFT collection built on the Bitcoin Ordinals protocol, notable for its innovative approach to rewarding early supporters of the Ordinals project and Bitcoin Puppets, a renowned non-fungible token collection featuring a limited set of 10,000 unique, hand-drawn monkey NFTs inscribed as Ordinals on the Bitcoin blockchain, with a trading sales volume of $251 million and $243 million, respectively.

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