Bitcoin Ordinals, the U.S. SEC deeming NFTs as securities and the issue of royalties for creators were some of the biggest topics in the industry in 2023.
Nonfungible tokens (NFTs) remained an integral part of the Web3 ecosystem in 2023, with many community members continuously braving new waters and constantly trying to figure out solutions to the space’s challenges throughout the year.
While critics regularly write obituaries for NFTs, users trading the asset class prove that the space is very much alive. In the last 30 days alone, the top 10 blockchains used for NFTs have recorded a collective sales volume of over $1.5 billion, showing that there is still demand.
While so many things happened within the NFT space in 2023, some changes stood out more dramatically than others. These include historical developments for the industry, like the creation of Bitcoin Ordinals, the first United States Securities and Exchange Commission case against NFTs and the divide regarding creator royalties.
