Pioneering Bitcoin Ordinals Collection Hits Sotheby’s Auction Block
Sotheby’s is set to make history by auctioning a Bitcoin Ordinals collection, marking the first time the 279-year-old auction house has offered works from the digital asset collection to the public.
The collection, BitcoinShrooms by pseudonymous artist Shroomtoshi, comprises pixel art referencing Bitcoin’s history, memes, and technical concepts. Shroomtoshi described it as a “pixelated recap” of Bitcoin’s 13-year journey, aiming to raise awareness while critiquing pop elements.
Sotheby’s, praising Shroomtoshi as a “trailblazing figure,” is selling three pieces, including “S” and “The Sovereign Individual,” with prices set at $20,000 to $30,000, accepting crypto bids. The auction concludes on December 13 at 12 pm EST. Bitcoin Ordinals are unique digital assets inscribed on satoshis, utilizing the Bitcoin network’s Taproot upgrade. Critics argue they exploit a vulnerability in Bitcoin Core, leading to network congestion and increased transaction fees.
Clever Robot News Desk 10th December 2023
