Auction house Sotheby’s has opened bidding for its Bitcoin Ordinals collection following the conclusion of its first auction of this same digital collectible last year in December. 

Bitcoin Ordinals Auction: Ongoing Curated Sale

The collection auction dubbed “Natively Digital: An Ordinals Curated Sale,” contains 19 pieces of the Bitcoin Ordinals including some rare Satoshis, work from the pioneering artist Shroomtoshi, generative art, and an item connected to the Bitcoin Ordinals brand Taproot Wizards. 

The price of the collection ranges from $5000 to about $70,000. Two Shroomtoshi pieces were listed for $50,000-$70,000 and they are the most expensive. One of the Shroomtoshi has reached a $16,000 bid while the other is still on $8,000. FAR for Taproot is listed for $15,000-$20,000, Nullish $30,000-$40,000, and another Nullish Block 9 for $10,000-$15,000.

The “lot” are expected to close independently one minute from each other, however, the auction will close on January 22. 

Per a statement from Sotheby’s, “This sale puts a spotlight on the incredible range of creative diversity found within the Bitcoin ecosystem, as Ordinals have seen explosive growth over the past year.” 

Sotheby’s first auction for Bitcoin Ordinals was completed on December 13 and it contained three pieces from BitcoinShroom’s collection. This was regarded as one of the first Ordinals projects ever created by Shroomtoshi. The auction of this collection led to an influx of funds. Upon completion, a total of $450,850 was realized from the sales.

Compared to the collective value of the three pieces, the realized funds marked a five times increase. 

Bitcoin is Now Duly Competing With Ethereum

With the advent of Bitcoin Ordinals, BTC is fast competing with Ethereum (ETH) as a digital collectible powerhouse. Moreso, the concept of Ordinals is fast gaining recognition and adoption in the global scene as duly proven by the Sotheby’s listing. 

After Gary Gensler, SEC Chair attempted to debunk a false post about Bitcoin ETF approval a few days ago, digital artist Billy moved to immortalize the official’s response to the false Bitcoin ETF approval post as Bitcoin Ordinals.

At the same time, Bitcoin Ordinals have faced some opposition from the likes of Bitcoin (BTC) core developer Luka Dashjr who is pushing for its eradication.

The post Auction for Bitcoin Ordinals Goes Live on Sotheby’s appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am