- Bitcoin Ordinal collections are beginning to dominate the NFT market
- Franklin Templeton’s report stated that activity is accelerating in the Bitcoin NFT space
- The post includes details about CoinDesk’s ownership and editorial policies
Franklin Templeton CEO Jenny Johnson recently spoke at Consensus 2023 about how Bitcoin Ordinal collections are beginning to dominate the NFT market. This signals growing activity in the intersection of Bitcoin and NFTs.
The NFT Market is Embracing Bitcoin
At Consensus 2023, Franklin Templeton CEO Jenny Johnson said Bitcoin Ordinal collections are dominating the NFT market. This suggests that major players in the NFT space see value in linking NFTs to Bitcoin and its blockchain. As the oldest and most established cryptocurrency, Bitcoin brings a sense of legitimacy and trust to the volatile NFT market.
Major NFT collections being minted on the Bitcoin blockchain also signals that the technology now supports these complex assets. This is a big step forward in Bitcoin’s functionality. Overall, the growth of Bitcoin NFT projects points to accelerating development at the intersection of Bitcoin and NFTs.
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