KEY POINTS
Non-fungible token (NFT) marketplace SuperRare has unveiled its inaugural Bitcoin Ordinals release, marking a significant expansion beyond its Ethereum roots.
Announced via a post on X (Twitter) under the caption “GM Ordinals,” the release is a collaboration with the Bitcoin-based launchpad and marketplace Gamma, alongside artist Killer Acid. Dubbed “No Brainers,” the NFT collection features 1-of-1 inscriptions, meaning each piece will be unique.
Despite the lack of details regarding the artworks featured in the collection, including the number of NFTs and their pricing, it has been disclosed that the release is scheduled for April 11, 2024, on SuperRare.
Since its inception in 2018, SuperRare, built on the Ethereum blockchain, has served as a platform for the issuance, collection, and trading of rare digital art within a curated community of artists.
The decision to venture into the realm of Bitcoin reflects a burgeoning market interest. While Ethereum has historically dominated the NFT landscape, Bitcoin has emerged as a valid contender.
Indeed, Bitcoin Ordinals, introduced just a year ago, have already experienced remarkable growth. By the end of 2023, they achieved an unprecedented high in sales, exceeding $881 million. Also, recent data indicates that Bitcoin NFTs have dominated weekly sales, surpassing $172 million, outpacing competing blockchains like Ethereum and Solana.
There have been numerous instances of successful Bitcoin-based NFT sales recently. For instance, last month, Taproot Wizards’ Bitcoin NFT collection titled “Quantum Cats” sold out in minutes, generating a total of $12.9 million.
Similarly, Sotheby’s wrapped up its “Natively Digital” Bitcoin NFT sale last month, featuring artworks by various artists and achieving sales surpassing $1 million. In December, the auction house surpassed expectations with the “BitcoinShrooms” NFT auction, accumulating $450,850, with individual NFTs fetching prices 5-8 times higher than their estimates.
