Galaxy Research’s report highlighted the top Ordinals sales, which were fascinating. It was projected that Bitcoin NFTs built on inscriptions and ordinals would be about $4.5 billion by 2025. Bitcoin [BTC] Ordinals have been a topic of discussion since its launch. Interestingly, Ordinals recently crossed the 300,000 mark. At press time, there were a total […]
Another criticism centered around the very fundamental functionality of Bitcoin. The blockchain was made solely for the P2P electronic cash system to make financial transactions and not to serve as a decentralized storage system.The report mentioned that Galaxy Research’s base case for the market size of Bitcoin NFTs built on inscriptions and ordinals would be $4.5 billion by 2025., revenue in the NFT segment is projected to reach $3,546.00 million in 2023.
Additionally. it’s interesting to note that by 2027, 64.45 million users are anticipated to enter the NFT market.However, inscriptions can reach a cumulative market worth of $1.5 billion if the market turns bearish, which was only 13% of the entire Ethereum NFT market at the time of writing.Galaxy Research’s projection of the future for Ordinals looked promising, and its current state-backed it.
Therefore, considering Bitcoin’s market dominance, and Ordinals increasing popularity, it is likely that several collections will move to Ordinals over the coming months, which will increase its market size.Subscribe to get it daily in your inbox.
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