Record-Breaking NFT Sales on Bitcoin in December 2023

In December 2023, NFT sales marked a historic milestone, achieving the highest single-month record, as reported by the Cryptoslam portal. The month witnessed an impressive 111,713 buyer addresses engaging in NFT transactions on the Bitcoin chain, while merchant addresses surged to 98,744, reaching an all-time high.

Meanwhile, Cryptoslam disclosed that total NFT sales on Ethereum (ETH) reached $364.79 million in December. Notably, NFTs focused on Bitcoin (BTC) surpassed ETH sales by 2.34 times during the same period.

The standout transaction of the month was the sale of a digital copy of Vincent Van Gogh’s 1888 self-portrait (Van Gogh painting #216), fetching a remarkable $1.19 million. Additionally, Ethereum hosted the sale of the Frxethredemption Ticket #33 token, priced at $638,433.

In another development, Bitcoin Core developer Luke Dashjr voiced concerns in December about Inscriptions, the foundation of the Ordinals protocol, attributing them to the proliferation of spam on the network.

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Dashjr predicted the imminent demise of these inscriptions, sparking criticism and questions within the community regarding the appropriateness of blockchain censorship methods. Some users argued that most miners prefer transactions with inscriptions due to their greater economic viability.