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Home»BITCOIN NEWS»Sotheby’s Pioneers Bitcoin Ordinal with Upcoming NFT Sales
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Sotheby’s Pioneers Bitcoin Ordinal with Upcoming NFT Sales

By Crypto FlexsDecember 7, 20233 Mins Read
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Sotheby’s Pioneers Bitcoin Ordinal with Upcoming NFT Sales
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Sotheby’s New York has announced a pioneering online auction titled “BitcoinShrooms: An Ordinals Auction” scheduled to take place from December 6-13, 2023. This event marks a notable development in the digital art sector as Sotheby’s enters the Bitcoin space. Ordinals, a relatively new form of non-fungible token (NFT) with a collection created by digital artist Shroomtoshi.

Shroomtoshi’s BitcoinShrooms collection is an upcoming NFT project within the Ordinals space that features a series of pixelated works of art that explore the complex tapestry of Bitcoin’s history, culture, and technological evolution. The artist, who has chosen to remain anonymous in the vein of Satoshi Nakamoto, the mysterious founder of Bitcoin, has created a collection that not only serves as digital art, but also as an educational tool about the core principles and evolution of BTC.

Sotheby’s begins first Bitcoin ordinal sale

Explaining the essence of the collection, Shroomtoshi said, “The BitcoinShrooms collection encapsulates the first 13 years of Bitcoin in pixels, an homage to 8-bit style art with a bit of nostalgia for the 90s and a way to defile the decades. My art has made thousands of SSDs all over the world. It’s both a tool to raise awareness of BTC’s core principles and an ironic way to address annoying pop elements and anomalies. “It is a condensation of knowledge and a journey of curiosity.”

Michael Bouhanna, digital art and contemporary art specialist at Sotheby’s. shared Through X, his passion stated: “We are excited to present BitcoinShrooms, Sotheby’s’ first general sale. This is a unique opportunity to kick-start such a highly anticipated project.

“This demonstrates Ordinals’ potential to revolutionize the digital art space.” This auction features notable works such as ‘S’, which stands for Self-Sovereignty, ‘Sovereign Individual’, which is inspired by the concepts of encryption and decentralization, and ‘BIP39 Seed’, which emphasizes the importance of securing BTC’s private keys.

Unlike other blockchain-based NFTs, Bitcoin ordinals are serialized satoshis, the smallest unit of BTC, and come with embedded media content called Inscriptions. This technology enables on-chain immutability and full ownership control without the constraints of smart contract logic.

Originally created in October 2022, the collection includes more than 200 works, each reflecting a different aspect of BTC’s history and culture. From depicting important events in the Bitcoin timeline to alluding to various cultural icons and concepts, it creates a rich mosaic of references and artistic interpretations.

The auction is set to accept bidding for both fiat and cryptocurrency, reflecting the growing integration of digital currencies in the traditional art market. Individual works are estimated to be priced between $20,000 and $30,000, highlighting the significant interest and value that comes with these unique digital assets.

At press time, ORDI tokens were trading at $54.637, up nearly 30% from yesterday’s low of $40.79.

ORDI price recovers above $54 on 1-day chart | Source: TradingView.com ORDIUSD

Featured image from Scenic Sotheby’s International Realty, Chart from TradingView.com

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