CryptoSlam reports that throughout the past 30 days, sales of Bitcoin-based NFTs had totaled $148 million. The Ronin blockchain, which once held the third-highest record for all-time NFT sales, has been surpassed by the Bitcoin network in the lifetime rankings of non-fungible tokens (NFTs).
The Bitcoin-based NFTs generated an all-time sales volume of $4,271,928,280, according to NFT data tracker CryptoSlam, which opened on June 18. As a result, Bitcoin now ranks third among the top three blockchain networks for NFT sales, behind Ethereum and Solana, having surpassed the record set by the Ronin blockchain, which stood at $4,271,675,550.
$148 million worth of sales were made by Bitcoin-based NFTs in the last 30 days. They now occupy the top two positions for the month, behind Ethereum with its $157 million volume. Solana came in second, with about $77 million. NFTs had a decrease in volume despite the millions of purchases reported; according to CryptoSlam, the top three chains saw a 40% decrease in 30-day sales.
More NFT usage is beneficial, according to a statement from Jeff Zirlin, co-founder of Sky Mavis, the company that created the Ronin network. The CEO stated that while they are competitive with blockchain gaming ecosystems, they have not been concentrating on Bitcoin. Zirlin stated:
Due to their basic nature and lack of connection to gaming, Bitcoin NFTs have not received much attention from us. More NFT adoption is generally a positive thing, and ecosystems with a gaming-specific focus are more competitive. According to Zirlin, video games are currently “in a state of evolution.” The co-founder of Sky Mavis clarified that the rising expense of acquiring new users has caused techniques that used to be effective for game companies to start to provide declining returns. Zirlin continued, “Web3 offers an alternative path, one that creates longer-lasting games via ownership-based revenue models and incentive alignment with your core audience.”
CryptoSlam data from June 4th revealed that the total sales volume of NFTs based on Bitcoin had reached $4 billion. Over $80 million in wash sales and $3.97 billion in NFT sales were combined in the data. Lower sales volumes were reported in the larger NFT market despite the new milestone. The monthly NFT sales volume decreased by 54% in May as compared to April. April sales of NFTs exceeded $1 billion, and May sales of digital collectibles were $624 million