Bitcoin Ordinals Auction: Bidding Now Open
Auction house Sotheby’s has started accepting bids for its Bitcoin Ordinals collection. This curated sale includes 19 pieces of the Bitcoin Ordinals, featuring rare Satoshis, artwork by Shroomtoshi, generative art, and items related to the Bitcoin Ordinals brand Taproot Wizards.
Price Range and Bids
The collection is priced between $5000 and $70,000. The most expensive pieces are two Shroomtoshi artworks listed for $50,000-$70,000. One has already received a bid of $16,000 while the other is currently at $8,000. Other notable pieces include FAR for Taproot listed at $15,000-$20,000 and Nullish priced at $30,000-$40,000.
Closing and Growth in Bitcoin Ordinals
The individual lots will close one minute apart from each other, but the auction as a whole will conclude on January 22. Sotheby’s stated that this sale highlights the creative diversity within the Bitcoin ecosystem and the explosive growth of Ordinals over the past year.
Previous Auction Success
In December 2023, Sotheby’s completed its first auction for Bitcoin Ordinals, which included three pieces from BitcoinShroom’s collection. The auction generated a total of $450,850 in sales. This marked a fivefold increase compared to the collective value of the three pieces.
Bitcoin’s Competition with Ethereum
The introduction of Bitcoin Ordinals has positioned BTC as a strong competitor to Ethereum in the digital collectibles space. The concept of Ordinals is gaining recognition globally, as demonstrated by Sotheby’s listing.
Response to SEC Chair and Opposition
Digital artist Billy immortalized SEC Chair Gary Gensler’s response to a false post about Bitcoin ETF approval as a Bitcoin Ordinals artwork. However, Bitcoin Ordinals has faced opposition from Bitcoin core developer Luka Dashjr, who advocates for its eradication.
Hot Take: Bitcoin Ordinals Expands the Digital Collectibles Market
The ongoing curated sale of the Bitcoin Ordinals collection by Sotheby’s showcases the growing interest in digital collectibles and the expanding role of Bitcoin in this market. With high-priced artworks and the recognition of Ordinals as a valuable concept, Bitcoin is now competing with Ethereum in the realm of digital collectibles. This auction demonstrates the creative diversity within the Bitcoin ecosystem and highlights the significant growth that Ordinals have experienced. As more artists and collectors embrace this new form of art and investment, the market for digital collectibles is poised for further expansion.
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