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Bitcoin On-Chain NFT Sales Surge in October: A Growing Trend


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According to data from CryptoSlam, Bitcoin's on-chain NFT sales in October reached $16,468,621.69, showing an increase compared to August ($11,915,930.74) and September ($14,739,931.12). Additionally, there were 51,187 NFT transactions in October, involving 12,325 unique buyers and 12,276 unique sellers.

The data indicates that the Bitcoin NFT market is experiencing an upward trend, both in terms of sales volume and active participants. 

 

However, when Musk recently discussed NFTs on a podcast, he mentioned, "The NFT is not even on the blockchain; it's just a URL to the JPEG. You should at least encode the JPEG in the blockchain. If the company housing the image goes out of business, you don't have the image anymore."

So, how should we really perceive NFTs?

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