The Bitcoin Frogs collection has taken the lead in NFT sales this week, surpassing popular collections such as Bored Apes Yacht Club and CryptoPunks on Wednesday. The BRC-20 memecoin project, consisting of 10,000 unique frog collectibles minted on the Bitcoin Blockchain, has 3,700 owners and hundreds listed for sale on NFT marketplaces.
PEPE Coin-inspired cryptocurrency NFTs have been trending in the market this year, leading to high demand for frog meme crypto and Bitcoin ordinal NFTs. According to CryptoSlam, Bitcoin Frogs sales reached a trading volume above $2.2 million, with an average selling price of 0.12 BTC or around $3,200 USD on Wednesday.
The inclusion of generative AI in producing unique properties for each mint brings artistic value to smart contract minting on the Bitcoin blockchain. The project notes that rarities of all traits within each layer are equal, allowing for subjective appreciation of aesthetics and satoshi-based rarities to emerge.
Bitcoin ordinal inscriptions reached 5 million earlier this month, double the number of BRC-20 tokens issued in a week’s time to set a new record. The trend has converged with the frog craze instigated by PEPE coin’s meteoric rise at the beginning of the month, driving the high demand for Bitcoin Frogs.