BitcoinShrooms uses pixel art from the 1980s that is permanently stored on the bitcoin blockchain via the Ordinals protocol.
Venturing into the world of bitcoin nft artwork, renowned auction house Sotheby's presents its first sale titled “bitcoin Ordinals,” featuring pixel art by an anonymous crypto artist known as Shroomtoshi. This unique auction, which runs until December 13, features three exclusive pieces from Shroomtoshi's captivating “bitcoin Shrooms” series.
Shroomtoshi combines technical expertise with artistic expression in a manner similar to bitcoin's mysterious creator, Satoshi Nakamoto. His collection embodies the core principles of btc, emphasizing financial autonomy and personal ownership.
Then the journey begins.
“Sovereign individual”: you will own bitcoin and be happy. pic.twitter.com/y91oFTYrEH
– BitcoinShrooms (@BitcoinShrooms) February 3, 2023
Each of the three highlighted lots represents different facets of bitcoin. The artwork named “S” symbolizes the deflationary and inherently rare characteristics of cryptocurrencies. “Sovereign Individual” is based on a remarkable essay that explores how decentralized digital currencies have affected societies. Last but not least, the “BIP39 Seed” article cleverly highlights the importance of individually protected btc keys and seed phrases.
Partnering with influential artist Shroomtoshi, this nft sale represents a significant step in bringing greater legitimacy to the art world and promoting cultural narratives within the realm of bitcoin and its associated digital collectibles. Estimated prices for each individual piece before the auction ranged from $20,000 to $30,000. However, one lot has already exceeded $48,000 in early bidding.
Technically speaking, BitcoinShrooms uses pixel art from the 1980s that is permanently stored on the bitcoin blockchain via the Ordinals protocol. With this novel method, rare collectibles are linked to fractional units of btc called “Satoshi.” The retro digital style pays homage to the first 13 years of bitcoin, as well as its beginnings in 2008.
Participation of reputable names in NFTs will drive industry growth
NFTs and digital art became extremely popular in 2021, attracting many artists who wanted to make the most of it. Many people saw it as a way to interact with their favorite artists and got involved in this movement. But since then, the value of many NFTs has decreased and scammers took advantage of the situation to try to scam people out of their hard-earned money. On top of that, the public's lack of knowledge about unique tokens caused confusion and skepticism.
Initial enthusiasm around NFTs waned as a result of these factors and the subsequent cryptocurrency bear market. Additionally, companies have not made the most of their established virtual stores and nft assets. However, introducing more reputable personalities into the field can help build trust among people and drive further growth in the industry.
It is clear from Sotheby's notable foray into the sale of these cryptographic artifacts that the public is beginning to embrace digital collectibles based on blockchain technology in addition to traditional fine art. This auction powerhouse has made over $100 million in sales since entering the nft space in mid-2021, and its latest action highlights its continued dedication to keeping up with cutting-edge digital and blockchain innovations. By doing this, Sotheby's actively influences and improves the way society views the importance and value of nft artworks.
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