Key Points
- Bitcoin NFTs have surpassed Ronin in all-time sales, securing the third spot in the all-time NFT sales rankings.
- In the last 30 days, Bitcoin NFTs have generated a sales volume of $148 million, ranking second for the month.
Bitcoin has overtaken Ronin in all-time non-fungible token (NFT) sales. This marks a significant milestone for Bitcoin-based NFTs.
According to CryptoSlam, Bitcoin NFTs recorded an all-time sales volume of $4,271,928,280. This surpasses Ronin’s record of $4,271,675,550, pushing Bitcoin into the top three blockchain networks for NFT sales, following Ethereum and Solana.
Monthly Sales Volume
Over the past month, NFTs based on the Bitcoin blockchain have generated a sales volume of $148 million, securing the second spot for the month. Ethereum leads with $157 million in sales, while Solana is ranked third with approximately $77 million in sales.
The NFT market has experienced a significant decrease in trading volumes compared to the 2021 bull market. Ethereum, Solana, and Bitcoin have all seen at least a 40% decrease in 30-day sales.
There was a 54% drop in monthly NFT sales volume from April to May. April recorded over $1 billion in sales, while May saw a reduced volume of $624 million.
Insight from Sky Mavis Co-Founder
Jeff Zirlin, co-founder of Sky Mavis, the team behind the Ronin network, acknowledged the growth of Bitcoin NFTs. However, he noted that his team’s focus remains on blockchain gaming ecosystems.
Zirlin stated that while Bitcoin NFTs are gaining traction, they are still “primitive” and not directly related to gaming. He sees Web3 as a promising alternative, offering longer-lasting games through incentive alignment with core audiences and ownership-based revenue models.
The recent success of Bitcoin NFTs is set against a backdrop of fluctuating market dynamics. CryptoSlam data revealed that Bitcoin-based NFTs hit $4 billion in all-time sales volume, combining $3.97 billion in legitimate sales and over $80 million in wash sales.
