NFT Ordinals of Bitcoin: a $5 billion market by 2025?

NFT Ordinals of Bitcoin: a $5 billion market by 2025?

Crazy BTC NFTs? – The protocol Ordinals on the blockchain network of Bitcoin (BTC) has facilitated the creation of non-fungible tokens (NFT). Even major industry players on Ethereum (ETH) have gotten into it, such as Yuga Labs in particular. An analysis of Galaxy Research considers that the BTC NFT market alone could reach the $5 billion within 2 years.


An NFT market on Bitcoin that would only be in its infancy

If the market for non-fungible tokens on the network Bitcoin generates digital works sometimes very “special”the fact remains that it opens up a whole new market. Trend Or real revolution? The teams of Galaxy Research have their opinion on the subject which they developed in a recent publication.

Indeed, Galaxy Research considers a “strong signal”the creation of the NFT collection TwelveFold by the famous studio Yuga Labs (who owns the intellectual property rights of the BAYC and Cryptopunk collections notably).

This is considered a real support to protocol Ordinals on Bitcoin. This collection marks the first foray by Yuga Labs outside of the Ethereum network, while multiple blockchains (especially those based on EVM) had already been offering NFT emissions on their networks for a long time.

>> Do you want Bitcoin to acquire NFTs? Register on eToro (commercial link) <<

The Ordinals protocol, source of a 5 billion dollar sector in 2025?

If the sale of the 300 NFTs from Yuga Labs’ TwelveFold collection were to be a successthis would strongly encourage other actors to do the same on Bitcoin.

Especially since the higher mint (creation) costs of these tokens on the BTC network encourages smaller collections. With a trend towards fewer copies within the same series, their individual value should logically be more important. What would potentially make them NFTs? ” top of the line “.

It is partly for this reason that Galaxy Research believes that NFTs on Bitcoin could be successful. Until reaching a valuation total of the order of “5 billion dollars in two years”.

In any case, one thing is certain, the Ordinals protocol is The phenomenon of the moment in the non-fungible token sector. To the point that it has even already landed on another blockchain. Indeed, Bitcoin’s little brother, Litecoin (LTC), also had its first NFTsafter transposition of Ordinals on this network founded by Charlie Lee.

It’s decided, you’re going to launch your NFT collection thanks to Ordinals! To do this, you need Bitcoin. Register quickly on the eToro platform (commercial link).

Last Verdict

To get more updates about the insurance you can follow our website or can bookmark it.

Leave a Reply

Your email address will not be published. Required fields are marked *