Krutika Adani
Recently, Bitcoin Ordinals have beaten their Ethereum counterparts in terms of growth in sales.
Last week Bitcoin NFTs managed to sell $49 million worth of Ordinals whereas ETH NFTs just sold $35 million worth of such assets in the same week.
The slump in Ethereum NFTs were caused by the lack of utility as these digital assets were reduced to just collectibles.
Several NFT projects such as Mekaverse slumped nearly 100% causing a complete shutdown of those projects.
Those NFTs which had some utility such as those associated with gaming platforms have a much better chance at survival than other classes such as art NFTs.