Bitcoin-Based NFTs See Record $881,223,753 Worth of Sales in December: On-Chain Data

Non-fungible tokens (NFTs) on the Bitcoin (BTC) blockchain saw blockbuster sales in the month of December, according to on-chain data.

According to data obtained from blockchain data aggregator CryptoSlam, Bitcoin NFT sales reached over $881 million in sales last month, a new high for 2023.

BTC NFT sales obliterated the previous sales record of $375 million set just the month before.

According to blockchain reporter Colin Wu, December marked the single highest sales month to date for NFTs built on BTC.

“Cryptoslam shows that NFT sales on the Bitcoin chain reached $881,223,753.92 in December 2023, setting the highest single-month sales record to date, including 111,713 buyer addresses and 98,744 seller addresses, both setting the highest single-month records to date.”

Bitcoin NFTs, also known as Ordinals, offer a way to attach unique data, such as images or videos, directly onto individual satoshis, which are the smallest units of Bitcoin.

Last week, the CEO of cryptocurrency exchange OKX announced that he was considering listing more Bitcoin pairs, as the total market capitalization of BRC-20 tokens increased by 30% in a single day.

In a recent thread, OKX CEO Star Xu said that he has been urged to list more ordinals on the crypto exchange, but said he feared doing so would “destroy the market.”

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/NeoLeo/S-Design1689