Bitcoin NFTs are coming back in weekly sales, reversing Ethereum
Bitcoin nonfunngible tokens (NFT) sales have surpassed Ethereum following a sudden surge in NFT collections based on Bitcoin Ordinals, mostly by the NodeMonkes collection.
Bitcoin NFT sales surged 80% over the week to $168.5 million, with three of the five best-selling NFT sets for the week based on Bitcoin Ordinals. Ethereum just made $162 million in sales, according to CryptoSlam! Data.
In the year It launched in January 2023 with formal systems and the tools to create NFT-like assets by allowing users to import files such as images into satoshis (sats) – the smallest unit of bitcoin.
Undistributed regulars (not part of any collection) were the top sellers with over 47,000 transactions valued at over $43 million.
A very close second was Bitcoin-based group NodeMonkes, with over $41 million in sales, a 170% increase from the week before. Ordinals collection Natcats took fourth place for the week with over $10 million in sales.
NodeMonkes is a collection of 10,000 unique pixel profile picture (PFP)-type ordinals launched in December and claims to be the first 10,000-strong collection on Bitcoin.
Other 10,000-count ordinal collections have already launched, but the NodeMonks team put their collection on the blockchain in February 2023, a month after Ordinals launched.
Related: Ordinary Traders Get Bitcoin Back After Fat-Finger NFT Purchases
X user “NFTstats” posted on March 2 that Nodemonx's market capitalization has reached over $500 million, making it the third-largest PFP-style NFT pool of all blockchains behind Ethereum-based Bored Yacht Club (BAYC).
It's unclear exactly why the collection has received so much recent attention.
In a February 22nd post, Kevin Wu, founder of Graycraft, an NFT pool, said NodeMonks has “meaningful provenance” as the first PFP-style NFT pool on the “first chain” — giving it a “great competitive narrative” that speculative investors can engage with. Shop now.
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