Bitcoin Emerges as Second-Largest NFT Chain, Driven by the Ordinals Protocol
Bitcoin has become the second-largest NFT chain, with $167.47 million worth of NFT sales in the past 30 days. The Ordinals Protocol, which immortalizes satoshis (the smallest units of bitcoin) with data like JPEGs, has been driving Bitcoin's success in the NFT space.
Despite initial skepticism, Yuga Labs launched an NFT collection based on the protocol, generating significant hype. Bitcoin NFTs are unique digital assets on the Bitcoin blockchain, and the Ordinals protocol allows for the creation of NFTs directly on the blockchain. Leading Bitcoin NFT collections include Bitcoin Ordinals, Space Pepes, and Bitcoin Frogs, with impressive sales volumes.
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