Bitcoin Network Confidently Ranks 2nd In NFT Sales
Bitcoin emerges as the NFT world’s emerging star. According to CryptoSlam statistics, the network has swiftly risen to become the second-largest NFT chain as NFTs continue to attract the Bitcoin community. The network has seen an incredible amount of NFT sales on secondary marketplaces in the last 30 days. Bitcoin’s Ordinals trading volume is presently second only to Ethereum, which did $391.8 million in NFT volume, more than double that of Ordinals in 30-days $171 million beginning April 24.
BRC-20 token transactions accounted for the bulk of ordinals activity on the network, according to a Dune dashboard created by BRC-20 token standard inventor Domo. BRC-20 is patterned after Ethereum’s ERC-20 token standard and was suggested in March 2023 by Anonymous developer Domo in Bitcoin Request for Comment 20. The BRC-20 token standard enables the minting and transfer of fungible tokens on the Bitcoin network by using ordinal inscriptions. Token standards are basic rules that specify how produced tokens function; for example, ERC-20 is the token standard for producing ERC-20 tokens on the Ethereum network. Unlike the ERC-20 standard, the Bitcoin BRC-20 standard has not been ratified and is still in the works.
Source
@Facebook_Metaverse_Nfts
