KEY POINTS
Bitcoin non-fungible tokens (NFTs) continue their upward trend, generating over $55 million in sales within the first nine days of this month. This comes shortly after Bitcoin NFTs surpassed the $4 billion mark in all-time sales.
Data from CryptoSlam shows a 57% increase in Bitcoin NFT sales over the past week. Notable transactions include a $WZRD BRC-20 NFT, which sold for over $73,000, an Ordinal Maxi Biz NFT fetching more than $70,000, and two NodeMonke NFTs — #4544 and #3513 — each selling for over $50,000.
These high-value sales have contributed to the $55 million total for the month, involving 41,470 unique sellers and 20,559 buyers.
Bitcoin has reclaimed a leading position in the NFT market, overtaking Ethereum, which had previously held the top spot. Ethereum’s performance has recently declined, with April seeing a sharp drop in Ethereum-based NFT sales to $240 million from March’s $489 million.
May has also been challenging for the entire NFT market, with sales plummeting by nearly 50% compared to April. Bitcoin, Ethereum, and Solana all reported their lowest monthly sales of 2024 during this period.
Despite these setbacks, Bitcoin NFTs have achieved significant milestones. Since their launch in January 2023, they have been adopted by various brands and platforms.
In December 2023, Sotheby’s launched the “BitcoinShrooms” NFT auction, which exceeded expectations by amassing over $450,000, with individual NFTs selling 5-8 times higher than estimated prices.
By the end of 2023, Bitcoin NFTs had already reached an all-time high, concluding the year with record-breaking sales of over $881 million. The momentum continued into 2024, with Bitcoin-based NFT sales surpassing $500 million in March, outpacing both Ethereum and Solana. NodeMonkes and Bitcoin Shrooms were among the top-selling NFTs during this period.
