Indeed, Bitcoin-based NFTs have recorded a sales volume of 148 million dollars over the past 30 days.
As a result, the Bitcoin network has gained a place in the ranking of non-fungible token sales since their creation. It now surpasses the Ronin blockchain, which previously held the third sales record for NFTs.
In mid-June, Bitcoin-based NFTs recorded a record sales volume of more than 4.27 billion dollars. Bitcoin thus ranks among the top three blockchain networks for NFT sales, after Solana and Ethereum.
BTC Leading the Race
During the past 30 days, BTC-based NFTs have recorded a sales volume of 148 million dollars. This places them in the top two spots for the month, after Ethereum, which recorded a volume of 157 million dollars. Solana closely follows with around 77 million dollars.
Despite the millions of sales recorded, NFTs have experienced a volume decline recently. The top three chains have indeed shown a decrease of at least 40% in sales over 30 days.
Moreover, some experts believe that greater adoption of NFTs is a good thing. They have become more competitive with blockchain gaming ecosystems in particular.
Games are currently evolving rapidly, according to analysts. Strategies that previously worked for gaming companies have started to show diminishing returns.
Furthermore, increasing user acquisition costs is one of the reasons.
Web3 offers an alternative. It enables the creation of more sustainable games by aligning revenue models based on ownership.
A Historic Sales Volume
At the beginning of June, Bitcoin-based NFT data had reached a historic sales volume of 4 billion dollars.
Despite this new milestone, the broader NFT market has recorded a decline in sales volumes. The monthly sales volume of NFTs has decreased by 54% in May compared to April.
Moreover, NFT sales exceeded one billion dollars in April. At the same time, the digital collectibles sector recorded a volume of 624 million dollars in May.
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