Bitcoin (CRYPTO:BTC) has made significant strides in the NFT space with over 75 million Ordinal inscriptions minted since December 2022, cementing its place as the third-largest blockchain by non-fungible token (NFT) sales.
Despite a downturn in the broader NFT market, Bitcoin has carved out a unique niche, with total sales reaching an impressive $4.49 billion.
The introduction of Ordinal inscriptions has breathed new life into Bitcoin, offering a fresh avenue for digital collectibles on its blockchain.
The cumulative effect has brought in 6,901 BTC for miners, worth roughly $429 million.
With Bitcoin’s total NFT sales only behind Ethereum and Solana, the blockchain continues to grow its presence, although it remains $39.64 billion short of Ethereum's dominant $44.13 billion.
The most valuable Bitcoin NFT sale to date belongs to the Uncategorized Ordinals collection, with one item fetching $2.4 million.
This collection leads Bitcoin’s NFT ecosystem, generating $424.82 million in sales.
Other top collections include Nodemonkes at $264 million, Runestone with $231 million, SATS BRC20 NFTs at $212 million, and Ordinal Maxi Biz and Bitcoin Puppets with $166 million and $165 million, respectively.
Even as daily inscription activity has slowed, the impact of Ordinal inscriptions remains notable, spurring creativity and innovation within the NFT space.
The technology has allowed Bitcoin to expand beyond its traditional role, now standing alongside Ethereum (CRYPTO:ETH) and Solana (CRYPTO:SOL) as a key player in the NFT market.
At the time of reporting, the Bitcoin price was $62,835.91.