Bitcoin-based non-fungible tokens (NFTs) have surpassed Ethereum NFTs in sales over the past week, after a rise associated with a growing number of Ordinals-based NFT collections.
Fueled by the popularity of the “NodeMonkes” collection, Bitcoin NFT sales skyrocketed 80% to $168.5 million, according to data from CryptoSlam, surpassing the $162 million recorded by Ethereum NFTs, the long-dominant platform for non-fungible tokens.
Launched in January 2023, Ordinals provide a way to encode data directly into the smallest unit of Bitcoin, the satoshi, with each satoshi being worth 0.00000001 BTC. While technically distinct from traditional NFTs, Ordinals offer similar functionality, allowing for the ownership and trade of unique digital assets.
Uncategorized Ordinals, which aren’t part of any specific collection, led the sales charts with over $43 million across 47,000 transactions. Following closely behind was the NodeMonkes collection, boasting over $41 million in sales, a significant 170% increase from the previous week.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.cryptocompare.com/email-updates/daily/2024/mar/04/
