The past week has seen a significant increase in non-fungible token (NFT) sales, with the cumulative value of NFT sales between April 29 and May 6 totaling $149.31 million.
This marks a slight increase of around 1.46% compared to the previous week. However, sales over the past seven days have exceeded expectations, surging by as much as 31.22%. During this period, NFT sales reached $208.17 million.
The significant growth in NFT sales is largely due to the advent of Bitcoin-based NFTs. Bitcoin NFT sales have become a major contributor to the digital collectibles market, ranking second across 21 different blockchains, according to data recorded by cryptoslam on May 14.
EthereumNFT sales continued to dominate with $111.26 million in sales. In second place, however, are Bitcoin-based NFTs, also known as “Ordinal Inscriptions.”
Data shows that Bitcoin NFT sales reached $53.43 million, ranking second among the 21 blockchains. This is a staggering 187.54% increase compared to the previous week.
The rise of Bitcoin-based NFTs is an important trend that is expected to continue in the coming weeks and months.
This is due to the increasing popularity of Bitcoin and the growing demand for NFTs as a means of digital ownership and investment.
The growth of NFTs is also driven by a growing number of artists and creators who are using NFTs as a new way to monetize their work and connect with their audiences.