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

The Bitcoin network has climbed in the all-time non-fungible token (NFT) sales rankings, surpassing the Ronin blockchain to claim the third spot. As of June 18, Bitcoin-based NFTs have recorded an all-time sales volume of $4,271,928,280, narrowly exceeding Ronin's $4,271,675,550. This places Bitcoin behind only Solana and Ethereum in terms of all-time NFT sales volume.

Recent Performance and Trends

In the last 30 days, Bitcoin-based NFTs have seen a sales volume of $148 million, ranking them second for the month behind Ethereum, which achieved $157 million. Solana followed with $77 million. Despite the significant sales, the top three NFT chains have experienced a downturn, with at least a 40% decline in 30-day sales volumes.

Perspective from Sky Mavis

Jeff Zirlin, co-founder of Sky Mavis—the team behind the Ronin blockchain—welcomed the increased adoption of NFTs but noted that their focus has been more on blockchain gaming ecosystems than Bitcoin NFTs. He 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.”

Zirlin highlighted that gaming is undergoing significant changes, with traditional strategies showing diminishing returns due to rising user acquisition costs. He emphasized that Web3 offers alternative paths for longer-lasting games through incentive alignment and ownership-based revenue models.

Bitcoin NFTs Milestone

On June 4, Bitcoin-based NFTs reached a milestone of $4 billion in all-time sales volume. This figure includes $3.97 billion in NFT sales and over $80 million in wash sales. Despite this achievement, the broader NFT market has seen lower sales volumes, with a 54% decline from April to May. The market recorded over $1 billion in sales in April, dropping to $624 million in May.

Conclusion

The rise of Bitcoin in the NFT sales rankings underscores the growing diversification of blockchain platforms supporting NFTs. While Ethereum and Solana continue to lead, Bitcoin's increasing volume highlights its expanding role in the NFT space, even as the broader market faces volatility and declining sales volumes.