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Submission: On August 15 via manual from SI — Scanned from NL
Submission: On August 15 via manual from SI — Scanned from NL
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MENU Type in your search termsSearch CATEGORIES: * News * Guides * Reviews * Interviews * Press Releases * By Blockchain * Ethereum * Flow * Wax * Solana * Cardano * Polygon COMPANY * Advertise * Submit a Tip * Privacy Policy * Terms & Conditions * Crypto Marketing Agency * Crypto Press Release Distribution FOLLOW ON: Twitter Linkedin Telegram MENU Type in your search termsSearch CATEGORIES: * News * Guides * Reviews * Interviews * Press Releases * By Blockchain * Ethereum * Flow * Wax * Solana * Cardano * Polygon COMPANY * Advertise * Submit a Tip * Privacy Policy * Terms & Conditions * Crypto Marketing Agency * Crypto Press Release Distribution FOLLOW ON: Twitter Linkedin Telegram * News * Reviews * Guides * Interviews * Newsletter Search NFTNews NFTNews NFT LatelyNFT Newsletter: News, Releases, Updates, and More All * News * Reviews * Guides * Interviews * Newsletter Search My account Get into your account. LoginRegister Subscribe NFTNews All * News * Reviews * Guides * Interviews * Newsletter Search My account Get into your account. LoginRegister Subscribe News WHY EXPERTS PREDICT BITCOIN NFTS WILL REACH $4.5B BY 2025 By Leah Alger March 6, 2023 Last Updated: March 6, 2023 SHARE THIS POST Twitter Telegram Facebook WhatsApp Linkedin Copy URL Email The Bitcoin non-fungible token (NFT) ecosystem — which wasn’t even a “thing” just months ago — is looking to expand to a market size of $4.5B by 2025, according to Galaxy Research. Quick Take: * A Galaxy Research report suggests a dramatic surge in demand for storing digital assets on Bitcoin over having advantages Ethereum does not include. * The research company expects the Bitcoin NFT market to hit a market cap of $4.5B by next year. * Marketplaces and crypto wallets are already capitalizing on this new trend — offering support to enhance user experience on the blockchain network. * As a result, Galaxy’s analysts believe that these Web3 platforms will fully expand to accommodate many more users by this summer. Example of Bitcoin NFTs, OrdinalPunks REASONS BEHIND THE PREDICTED SURGE OF BITCOIN NFTS Since December 2022, more than 200k digital inscriptions have been stored on Bitcoin’s distributed ledger — comprising audio, image, text, and app files. Each inscription ties to an Ordinal as part of the process of adding assets to the Bitcoin network quickly and efficiently. Some of the most prominent players in the Web3 industry — Yuga Labs and DeGods — hold digital assets on Bitcoin. Therefore, it’s no wonder analysts predict the blockchain network’s NFT market to reach to the stars. Nevertheless, concerns have been rising. One notable issue against Bitcoin inscriptions includes using satoshis to reduce fungibility of Bitcoin. Some believe its “harming its use as money”. However, Galaxy’s analysts found that such fears are “overblown even under the most aggressive inscription growth projections.” According to them, it would take 50k BTC to notice a reduction in fungibility. This accounts for just 0.24% of the total BTC terminal supply. Following on, here are some valuable differences between Bitcoin and Ethereum NFTs: Examples of the differences between Bitcoin NFTs and Ethereum NFTs by Galaxy Research Understanding the advantages of Bitcoin NFTs, new wallets and marketplaces are already emerging to support user experience for such assets. Consequently, Galaxy believes the Web3 world will see many more Bitcoin NFTs launch this summer. Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more. * Tags * Bitcoin * Bitcoin NFTs * Ordinals RELATED POSTS AMAZON TO ENTER NFT SPACE AS SOON AS NEXT MONTH American E-commerce giant, Amazon, the multi-billion dollar firm, are... REVOLUTIONIZING E-COMMERCE: SHOPIFY AND THIRDWEB UNVEIL NEW TOOLKIT TO INTEGRATE WEB3 TECHNOLOGY CommerceKit will assist developers in integrating web3 features into... DANNY COLE’S ‘CROWD’ NFT COLLECTION SETS NEW RECORD WITH 38K SALES The latest NFT open edition is Danny Cole's "Crowd,"... BICASSO: HOW BINANCE’S AI ART GENERATOR IS DISRUPTING NFT MONETIZATION Binance, the world's largest cryptocurrency exchange, recently launched Bicasso,... PROOF UNVEILS Q1 PLANS FOR MOONBIRDS IN VIDEO RELEASE PROOF Founders Kevin Rose and Justin Mezzell reveal exciting... UNWRAPPING DOODLEMAP: THE ULTIMATE GUIDE TO DOODLES’ FUTURE Doodle enthusiasts can now get a quick glimpse into... RELATED POSTS THE ULTIMATE GUIDE TO NFT FOR DUMMIES [2022 GUIDE] NFTs are collectible items that can represent digital content,... BORED APE’S YUGA LABS INTRODUCE FIRST BITCOIN NFTS, TWELVEFOLD The NFT world just got even more exciting! Last... ANTHONY HOPKINS DROPS ICONIC NFT COLLECTION IN THE METAVERSE Sir Anthony Hopkins, the legendary British actor and director,... EVERYTHING YOU NEED TO KNOW ABOUT BITCOIN ORDINAL NFTS Bitcoin Ordinal NFTs are experiencing a significant surge in... BORED APE YACHT CLUB REVIEW | 2023 GUIDE An in-depth Bored Ape Yacht Club Review Guide. Everything you need to know about Bored Ape Yacht Club NFT Collection. TOP 5 MOST EXPENSIVE CRYPTOPUNKS NFTS AND REASONS WHY CryptoPunks' unique attributes sell for six digits or more CryptoPunks,... Previous articleAmazon To Enter NFT Space As Soon As Next Month NFTNews JOIN THE WORLD'S MOST POPULAR NFT NEWSLETTER CATEGORIES: * News * Guides * Reviews * Interviews * Press Releases * By Blockchain * Ethereum * Flow * Wax * Solana * Cardano * Polygon BROWSE MORE: * By Collection * Bored Ape Yacht Club * CryptoPunks * Beeple * DeadFellaz * Azuki * Doodles * VeeFriends * Moonbirds COMPANY: * Advertise * Submit a Tip * Privacy Policy * Terms & Conditions * Crypto Marketing Agency * Crypto Press Release Distribution FOLLOW ON: Twitter Linkedin Telegram Discord Rss NFT Lately is part of the Coinbound family of brands.