• Bitcoin NFTs may reach $4.5 billion by March 2025.
• Ethereum and Solana were well-known leads in the field of NFT.
• The market estimation for the Bitcoin NFTs is $10 billion when the market is in a bull phase.

Bitcoin NFTs to Gain an Average $4.5 Billion Market Cap

Introduction to NFTs

The recent talks about Bitcoin Non Fungible Tokens (NFTs) have gained massive attention post the launch of Ordinal at the start of the new year. This has led to many updates like Yuga Labs’ announcement of “TwelveFold” and a recent update from Galaxy’s research unit with details about Ordinals and inscriptions, as well as a comparison between Bitcoin and Ethereum NFTs.

Ethereum vs Bitcoin NFTs

The introduction of Non Fungible Tokens on Bitcoin goes long back to 2012 and in 2014, Namecoin, the first NFT was minted on Bitcoin. As per Galaxy Research, if the market is in a bull phase, then this could lead to a potential market cap of $10 billion for Bitcoin NFTs whereas if there is bearish pressure then it could be reduced to $1.5 billion; with a neutral estimate being around $4.5 billion by March 2025.

Community Divided Over Network Stability

The bitcoin community is divided over this issue – one side thinks that an increase in activities will maintain network stability whereas other is concerned about increased transaction numbers leading to higher gas fees which can make it harder for small-scale transactors to use them effectively.

Conclusion

To conclude, it seems that although there are some concerns regarding increased transaction numbers resulting in higher gas fees making it difficult for small-scale transactors but if everything remains consistent then we may see a potential market cap of $10 billion or even more by March 2025 for Bitcoin Non Fungible Tokens (NTF).