Fun

Bitcoin NFTs surpass Ronin in all-time sales

News Feed - 2024-06-18 05:06:51

Ezra Reguerra18 minutes agoBitcoin NFTs surpass Ronin in all-time salesBitcoin-based NFTs recorded a sales volume of $148 million in the last 30 days, according to CryptoSlam.103 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Bitcoin network has moved up a spot in the all-time nonfungible token (NFT) sales rankings, surpassing the Ronin blockchain, which previously held the third-highest record for all-time NFT sales. 


On June 18, NFT data tracker CryptoSlam showed that Bitcoin-based NFTs recorded an all-time sales volume of $4,271,928,280. This surpasses the Ronin blockchain’s record of $4,271,675,550, moving Bitcoin to the top 3 leading blockchain networks for NFT sales, following Solana and Ethereum.All-time sales volume Source: CryptoSlam


In the last 30 days, Bitcoin-based NFTs recorded a sales volume of $148 million. This puts them in the top two spots for the month, following Ethereum, which had a volume of $157 million. Solana followed closely with about $77 million.


Despite the millions in sales recorded, NFTs experienced a downturn in volume, with the top three chains showing at least a 40% decline in 30-day sales, according to CryptoSlam.Bitcoin NFTs are still “primitive”


In a statement, Jeff Zirlin, co-founder at Sky Mavis, the team behind the Ronin network, believes that more NFT adoption is good. The executive told Cointelegraph that they have not been focusing on Bitcoin but are competitive with blockchain gaming ecosystems. Zirlin said:“We haven’t been paying too much attention to Bitcoin NFTs because they are still primitive and unrelated to gaming. In general, more adoption of NFTs is good and we’re more competitive with ecosystems that focus specifically on gaming.”


Zirlin believes that gaming is “in a state of evolution” now. The Sky Mavis co-founder explained that strategies that previously worked for gaming companies have started to show diminishing returns because of the increase in user acquisition costs.


“Web3 offers an alternate path, one that creates longer-lasting games via incentive alignment with your core audience and ownership-based revenue models,” Zirlin added.


Related:Bitcoin transaction value hits yearly high with $25B movedBitcoin NFTs hit $4 billion in all-time sales


On June 4, CryptoSlam data showed that Bitcoin-based NFTs hit $4 billion in all-time sales volume. The data combined $3.97 billion in NFT sales and over $80 million in wash sales.


Despite the new milestone, the broader NFT market recorded lower sales volumes. There was a 54% decline in monthly NFT sales volume in May compared to April. NFTs saw over $1 billion in sales in April, while the digital collectibles industry recorded a volume of $624 million in May.


Magazine:‘Bitcoin Layer 2s’ aren’t really L2s at all: Here’s why that matters# Bitcoin# Data# NFTAdd reaction

News Feed

Democrats to Return 2.2% of $45.2 Million Donation Made by FTX’s Co-Founder Sam Bankman-Fried
Democrats to Return 2.2% of $45.2 Million Donation Made by FTX"s Co-Founder Sam Bankman-Fried After the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), donated $5.2 million t
Report Shows Crypto News Publication The Block Was Secretly Funded by Bankman-Fried’s Alameda
Report Shows Crypto News Publication The Block Was Secretly Funded by Bankman-Fried"s Alameda On Dec. 9, 2022, Axios reporter Sara Fischer reported on the CEO of the crypto media T
US Sanctions Russians Allegedly Using Cryptocurrency to Influence Presidential Election
US Sanctions Russians Allegedly Using Cryptocurrency to Influence Presidential ElectionThe U.S. has sanctioned several Russian nationals, a Ukrainian lawmaker, and their cryptocurre
Brayden Lindrea8 hours agoLightning Labs releases Taproot Assets alpha, bringing stablecoins to BitcoinTaproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director o
Amazon's Climate Change Plan Is Terrible News for Tesla
Seven months after electric truck start-up Rivian announced that it had raised $700 million in an investment round led by Amazon, the online retail giant has placed a massive order with the Michigan-based EV firm as part
Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M
Blockfi CEO Says FTX Has an "Option to Acquire" Crypto Lender at a Price of up to $240M According to Blockfi’s co-founder Zac Prince, the company has signed definitive agree
Blackrock CEO Agrees With JPMorgan Boss Jamie Dimon About Bitcoin, Sees ‘Huge Role for Digitized Currency’
Blackrock CEO Agrees With JPMorgan Boss Jamie Dimon About Bitcoin, Sees "Huge Role for Digitized Currency" The chief executive officer of the world’s largest asset manager,
Sorare Partners With NBA to Build a Licensed NFT Game
Sorare Partners With NBA to Build a Licensed NFT Game Sorare, a French fantasy game startup, reached an agreement with the National Basketball Association (NBA) to build a non-fung
XRP Price Range-Bound: Can It Break Out or Stay Stuck?
Este artículo también está disponible en español. XRP price is moving higher from the $0.5250 support. The price could gain bullish momentum if it clears the $0.5450 and
New Tamper-Evident Packaging to Curb Hardware Wallet Vulnerabilities
New Tamper-Evident Packaging to Curb Hardware Wallet Vulnerabilities As digital assets have grown valuable over the last decade, hardware wallets have become a mainstay and there
New York Approves Its First Publicly Available Japanese Yen Stablecoin
New York Approves Its First Publicly Available Japanese Yen Stablecoin The New York State Department of Financial Services, the Bitlicense regulator, has authori
Prashant Jha10 hours agoMultiversX eyes metaverse scalability as CEO sheds light on spatial computingThe MultiversX CEO discussed the recent interest of Meta and Apple in the metaverse domain and analyzed their approache