Bitcoin NFTs Top Ronin Sales

Bitcoin NFTs topped Ronin in all-time sales, as Bitcoin-based NFTs recorded a sales volume of $148 million in the last 30 days, according to CryptoSlam.

Regarding all-time non-fungible token (NFT) sales, the Ronin blockchain, which had held the third-highest record, has surpassed the Bitcoin network.

NFT statistics tracker CryptoSlam revealed on June 18 that NFTs based on Bitcoin had registered an all-time sales volume of $4,271,928,280. This exceeds the record set by the Ronin blockchain, which stands at $4,271,675,550. As a result, Bitcoin now ranks third among the top three blockchain networks for NFT sales, behind Ethereum and Solana.

Bitcoin-based NFTs made $148 million worth of sales 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 decreased in volume despite the millions of purchases reported; according to CryptoSlam, the top three chains saw a 40% decrease in 30-day sales.

Bitcoin NFTs are still “primitive”

According to Jeff Zirlin, co-founder of Sky Mavis, the company that created the Ronin network, more NFT usage is beneficial. The CEO stated to Cointelegraph that while they are competitive with blockchain gaming ecosystems, they have yet to concentrate on Bitcoin. Zirlin stated:

“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.”

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 that creates longer-lasting games via ownership-based revenue models and incentive alignment with your core audience.”

Bitcoin NFTs hit $4 billion in all-time sales

CryptoSlam data from June 4 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.

The larger NFT market reported lower sales volumes Despite the new milestone. The monthly NFT sales volume decreased by 54% in May compared to April. In April, NFT sales exceeded $1 billion, and in May, the digital collectibles market reached $624 million in sales.