It Only Takes One Day To Create An Ordinary Bitcoin To Exceed Ethereum NFT Sales!

NFT sales on the Bitcoin network or commonly called Bitcoin Ordinarys are increasing rapidly. (Photo; Doc. NFTnewsPro)

JAKARTA - Bitcoin, the world's first and largest cryptocurrency, has experienced significant development with the presence of digital art on a Bitcoin network called Ordinary. Recently, the Bitcoin Ordinary has made a new history by surpassing the sale of NFT assets on the Ethereum platform, which is the most popular platform for NFT.

Data from cryptoslam.io shows that on Wednesday, November 8, 2023, the sales volume of NFTs using Bitcoin reached 17.17 million (Rp269.9 billion), while the sales volume of NFTs using Ethereum was only USD 15.77 million (Rp248.1 billion).

For your information, NFT (Non-Fungible Token) is a unique digital asset that can represent various things, such as paintings, photos, music, games, and so on. NFT can be created, purchased, and sold on various platforms that use blockchain technology, which is a decentralized and transparent recording system.

Since the emergence of NFT, Ethereum has become the dominant platform for blockchain-based digital art, with popular NFT collections such as CryptoPunks, Bored Ape Yacht Club, Art Blocks, and others. However, Bitcoin has also shown significant developments in the NFT sector, with collectibles such as Ordinary, $SATS, $RATS, and others.

Ordinarys are unique NFT brands created on the Bitcoin blockchain, which generate collections or commonly called random'' inscriptions containing ordinal numbers, such as "to-1", "to-2", and beyond. Ordinary has become one of the largest Bitcoin-based NFT collections, with more than 1.5 million copies made so far.

On Wednesday, Ordinarys overtook Ethereum's NFT for the first time in history. This was documented byUL, founder of Ord.io, which is a platform for creating and exploring Ordinarys.

"Ordinals just surpassed Ethereum's NFT for the first time. So of course I have to put it in Bitcoin forever," said God.

Apart from Ordinary, other Bitcoin-based NFT collections that recorded high sales on Wednesday were $SATS and $RATS, which are tokens representing the smallest units of Bitcoin and Rupiah, respectively. $SATS and $RATS are BRC-20 tokens, which are standard tokens created on the Bitcoin blockchain using the RSK protocol, which allows smart contracts in Bitcoin.

$SATS and $RATS can be used to purchase NFTs related to Bitcoin and Rupiah, such as stickers, memes, cards, and others. On Wednesday, the "$SATS BRC-20 NFT" collection outperformed the Bored Ape Yacht Club series, up to the top of the sales chart. Following BAYC, "USATS BRC-20 NFTs" secured third place in sales over the past 24 hours.

Bitcoin and Ethereum's NFT sales over the past week have also shown an interesting trend. Ethereum is still leading in weekly sales, recording a 45.66% increase to a level of $79.61 million (Rp1.25 trillion) since Wednesday, November 1, 2023. However, Bitcoin also experienced a remarkable spike, with weekly sales reaching $55.52 million (Rp873.6 billion), up 661.60% from the previous week.

The increase in Bitcoin's Ordinary sales shows that Bitcoin is not only a crypto asset, but can also be a platform for digital innovation and creativity. With technologies like RSK, Bitcoin can offer features and functions previously owned by Ethereum. Thus, Bitcoin can compete with Ethereum in the fast-growing NFT market.