In December 2023, Bitcoin NFT sales hit a record high
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In December 2023, sales of non-fungible tokens (NFTs) on the Bitcoin (BTC) network reached $881 million.
According to the Cryptoslam portal, in December 2023, NFT sales set a record for the highest sales in a single month.
Additionally, a record 111,713 buyer addresses participated in NFT transactions on the Bitcoin chain in December. At the same time, the number of merchant addresses rose to 98,744, the highest number of merchants in a single month.
Meanwhile, total NFT sales on Ethereum (ETH) reached $364.79 million, according to Cryptoslam. In December, NFT sales, mainly BTC, were 2.34 times that of ETH.
The most valuable NFT transaction in December was a digital copy of Vincent van Gogh’s 1888 Self-Portrait (Van Gogh Painting #216), which sold for $1.19 million. The Ethereum platform sold the Frxethredemption Ticket #33 token in December for $638,433.
In December last year, Bitcoin Core developer Luke Dashjr said that Inscriptions, which are the basis of the Ordinals protocol, have contributed to the spread of spam on the network and predicted that it will end soon.
The developer’s statement prompted criticism and questions from the community about the appropriateness of this approach to blockchain censorship. One user noted that most miners prefer to use Inscriptions to mine transactions because they “make more economic sense.”
