The Bitcoin.network has set a new record for NFT sales in December. A total of $881 million worth of NFTs were sold during that month alone. This surge in sales demonstrates the growing popularity and demand for NFTs. In fact, December saw the highest ever monthly sales of NFTs according to Cryptoslam. This signifies the increasing interest and involvement of investors and collectors in the NFT market.
Furthermore, a record-breaking number of buyers and merchants participated in Bitcoin NFT transactions in December. A staggering 111,713 buyer addresses were involved in NFT transactions on the Bitcoin chain, indicating widespread interest in these unique digital assets. Additionally, the number of merchant addresses reached 98,744, the highest number of merchants in a single month. This surge in buyer and merchant activity further demonstrates the thriving ecosystem and market for NFTs on the Bitcoin network.
Compared to Ethereum, BTC-focused NFT sales surpassed Ethereum sales by 2.34 times in December. With total Ethereum NFT sales amounting to $364.79 million, the dominance of the Bitcoin network in NFT transactions is evident. More individuals are choosing to buy and trade NFTs on the BTC network, solidifying its position as the preferred platform for NFT transactions.
In terms of specific NFT transactions, the most valuable transaction in December was the sale of a digital copy of Vincent Van Gogh’s self-portrait (Van Gogh painting #216) for $1.19 million. This showcases the value and worth collectors attribute to rare and unique digital assets. In addition, the Ethereum platform also saw a notable sale of the Frxethredemption Ticket #33 token, priced at $638,433.
Overall, the sales of NFTs on the Bitcoin network reached a staggering $881 million in December 2023, setting a new record for the highest single-month sales. With the increasing number of buyers and merchants participating in NFT transactions, it is clear that the market for these unique digital assets is thriving. It will be interesting to see how the NFT market evolves and grows in the coming months, especially as BTC-focused NFT sales continue to outpace Ethereum sales.
Analyst comment
Positive news: The sales of NFTs on the Bitcoin network hit $881 million in December 2023, setting a new record for the highest monthly sales. This indicates the growing popularity and demand for NFTs.
As an analyst, I predict that the market for NFTs on the Bitcoin network will continue to thrive and grow in the coming months. With increasing numbers of buyers and merchants participating in NFT transactions, the market is likely to see further expansion and adoption. The dominance of BTC-focused NFT sales over Ethereum sales suggests that more individuals are choosing to buy and trade NFTs on the BTC network.