In December 2023, NFT Sales on Bitcoin Reached a New High

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Last Updated on January 1, 2024 by Bitfinsider

The Cryptoslam webpage states that NFT sales in December 2023 broke the record for the most sales in a single month. Furthermore, in December, a record 111,713 buyer addresses took part in NFT transactions on the Bitcoin chain. Concurrently, the quantity of merchant addresses increased to 98,744, which was a record high for retailers in a single month.

In the meantime, $364.79 million worth of NFT Ethereum (ETH) was sold, according to Cryptoslam. December sales of NFTs with a concentration on BTC were 2.34 times higher than ETH sales.

A digital replica of Vincent Van Gogh’s 1888 self-portrait (Van Gogh painting #216), which sold for $1.19 million, was the most lucrative NFT transaction in December. The Frxethredemption Ticket #33 token, valued at $638,433, was offered for sale on the Ethereum network in December.

According to Luke Dashjr, a developer for Bitcoin Core, Inscriptions—the foundation of the Ordinals protocol—promote spam on the network and portend its impending demise. He made this claim in December.

The community questioned the developer’s claims regarding the appropriateness of such blockchain censorship techniques and criticized him for making them. As they make “more economic sense,” most miners would prefer to mine transactions with “inscriptions,” according to one user.

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