In NFT Sales, Bitcoin Jumps to No. 2 Spot in a Matter of Months

According to data platform CryptoSlam, NFTs on Bitcoin have grossed about $167 million in the past thirty days, creeping up on Ethereum’s number one position.

AccessTimeIconMay 22, 2023 at 10:19 p.m. UTC
Updated May 23, 2023 at 5:04 p.m. UTC

Bitcoin-based non-fungible tokens (NFTs) have risen to second place for NFT sales per blockchain, according to Web3 data platform CryptoSlam, which is remarkable considering Bitcoin NFTs didn’t effectively exist before the enabling of inscriptions on the Bitcoin mainnet in January 2023.

The data shows that in the past thirty days, Bitcoin NFTs have grossed about $167 million, which is several figures shy of Ethereum’s near-$397 million. However, NFT sales on Bitcoin are nearly three times larger than on the Solana network, according to Cryptoslam, trailing behind at about $57 million.

Bitcoin’s accelerated rise to prominence in the NFT space is fueled by the Ordinals Protocol, a mechanism for inscribing satoshis, the smallest unit of bitcoin, with data such as a JPEG. While they’ve been met with criticism in the Bitcoin community, NFT giant Yuga Labs released their own Ordinals-based collection in February, fueling hype and capital into their adoption.

CryptoSlam reports Bitcoin Frogs as the current top Bitcoin-based NFT collection, which has earned $6.3 million in sales over the past seven days. The collection got a pump last week, raking in $2.3 million in sales on May 17.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Cam Thompson

Cam Thompson was a news reporter at CoinDesk.