NFTs
Franklin Templeton Highlights Bitcoin NFTs
Global asset manager Franklin Templeton has acknowledged the transformative impact of Bitcoin Ordinals on the cryptocurrency industry, marking a significant increase in Bitcoin-centric innovation.
The investment management’s digital assets arm shared a recent briefing titled “The Rise of Bitcoin Ordinals” on its social media account, describing the rise of Bitcoin non-fungible tokens (NFTs) as a catalyst for the resurgence of activity within the Bitcoin network.
The asset manager’s report highlights the growing importance of Bitcoin in the NFT market, with Bitcoin Ordinals witnessing an increase in trading activity and market visibility.
Franklin Templeton highlighted several collections of Bitcoin Ordinals, such as NodeMonkes and Runestone, for their leading roles in trading volume and market capitalization in the NFT realm.
The company’s outlook shared in its briefing is consistent with the performance of the Bitcoin network over the past month, which dominated the NFT market.
In March, it led all blockchains in monthly NFT sales with $514 million and surpassed $3 billion in all-time sales, becoming the fourth chain in history to do so.
Franklin Templeton also warned investors about the inherent risks associated with these assets, including potential loss of value and lack of traditional financial protections.
Franklin Templeton has been proactive in educating its clientele on segments of the cryptocurrency market, including the prospects and risks of memecoins, and has ventured into the Bitcoin ETF arena with the introduction of the Franklin Bitcoin ETF (EZBC) for US investors.