Ethereum NFT Marketplace SuperRare Expands to Bitcoin with New Collection
Ethereum-based NFT marketplace SuperRare has announced its expansion to Bitcoin with the launch of a new collection of Ordinals inscriptions by artist Killer Acid. SuperRare, based in San Diego, is a platform that supports art creators and collectors through the Ethereum blockchain. It specializes in single-edition, 1-of-1 digital works and is one of the longest-running platforms in the NFT world.
SuperRare and Gamma Partnership
To bring inscriptions to the platform, SuperRare partnered with Bitcoin Ordinals marketplace Gamma. The size of the collection, which will be available from April 11, 2024, has not been specified by SuperRare. However, it is confirmed that the collection called “No Brainers” will only feature 1-of-1 inscriptions, making each piece of art unique. Each Ordinals inscription will have a unique image.
About Killer Acid
Killer Acid is an artist named Rob Corradetti known for his work that often revolves around psychedelic themes. The artwork from the “No Brainers” collection has not been revealed yet. The image provided in this article is derived from an Ethereum NFT piece titled “Crypto Art,” minted by Killer Acid on SuperRare in 2022.
Zack Yanger, SVP of SuperRare Labs, expressed his initial hesitation towards Ordinals due to its manual and trust-dependent setups. However, after exploring the Ordinals ecosystem towards the end of 2023, Yanger acknowledged the cutting-edge development and substantial infrastructure built within the space since its launch in early 2023.
Yanger stated that SuperRare is always looking for innovative ways to support artists and their creativity. After receiving significant interest from the artist community, SuperRare is excited to begin experimenting with Ordinals.
Bitcoin’s Rise in the NFT Market
While Ethereum remains the leading network for NFTs in terms of trading volume, Bitcoin is gaining traction as another prominent platform for minting digital artwork and collectibles. This shift is attributed to the Ordinals protocol launched in 2023. The popularity of Ordinals trading has even propelled cross-chain marketplace Magic Eden to the top of the market share standings.
Nick Sainato, co-founder of Bitcoin NFT marketplace Gamma, believes it’s time to bring more artists to Bitcoin. He expressed excitement about witnessing the market and mindshare generated by Ordinals over the past year. Supporting SuperRare’s entry into Bitcoin is an honor for Gamma, as one of the early teams that established appreciation for fine art on-chain.
SuperRare’s Commitment to Artist Royalties
Last year, SuperRare became involved in the NFT royalties debate. Unlike many rival platforms that stopped enforcing artist royalties, SuperRare decided to continue paying artists a share of secondary market sales. Jonathan Perkins, co-founder of SuperRare, emphasized their commitment to this practice during NFT Paris 2023. Perkins stated that royalties are not going away on SuperRare.
Hot Take: SuperRare Expands its Reach and Supports Artists on Bitcoin
SuperRare’s expansion into Bitcoin through its partnership with Gamma signifies its commitment to supporting artists and exploring new opportunities in the ever-evolving NFT space. By embracing Ordinals inscriptions, SuperRare aims to provide a unique and creative platform for artists and collectors.
Bitcoin’s emergence as a viable network for NFTs expands the options available to artists and showcases the potential for growth in the Bitcoin NFT market. The collaboration between SuperRare and Gamma opens doors for more artists to explore the possibilities of Bitcoin as a platform for their digital artwork.
SuperRare’s decision to continue paying artist royalties sets an example for the industry, highlighting the importance of recognizing and supporting artists’ ongoing contribution to the NFT ecosystem. This commitment further strengthens SuperRare’s position as a platform that prioritizes artists and their long-term success.
Overall, SuperRare’s expansion to Bitcoin demonstrates its dedication to innovation and providing new avenues for artists to thrive in the world of NFTs. It also highlights the growing significance of Bitcoin in the NFT market and its potential to revolutionize digital art ownership.
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