Bitcoin non-fungible token (NFT) sales marked a significant milestone as the year concluded, reaching an unprecedented peak of over $881 million.
According to data from CryptoSlam, monthly Bitcoin NFT sales in December surged to $881,223,753, a 134.4% increase compared to the previous month’s sales of $375,953,394.
The December figures revealed 98,744 unique sellers and 111,713 unique buyers, nearly doubling the numbers from the previous month. The average sale price stood at $1,682.28, indicative of the strong market activity during the period.
This surge in Bitcoin NFT sales may be attributed to the positive trend witnessed in the latter months of 2023. Analysts and data aggregator platforms began observing optimistic numbers and a renewed sense of optimism for the future of NFTs, a stark contrast to the uncertainty following their decline after the 2021 and 2022 boom.
The increase in Bitcoin NFT sales could also be linked to analysts’ projections of Bitcoin reaching $160,000 in 2024, driven by factors such as halving and the excitement surrounding spot ETFs.
Since their introduction, Bitcoin NFTs have gained rapid traction within the community, attracting support from various companies. Notable marketplaces like Binance, OKX, and Magic Eden have incorporated support for Bitcoin NFT trading, while others, including Yuga Labs, Asprey, and Bugatti, have launched their Bitcoin-based NFT collections.
Recent news in the Bitcoin NFT space includes Sotheby’s “BitcoinShrooms” NFT auction by Shroomtoshi, which exceeded expectations by amassing $450,850. Individual NFTs from the collection sold 5-8 times higher than their estimated prices, showcasing the strong demand and growing interest in Bitcoin-based NFTs.
