The realm of non-fungible tokens (NFTs) witnesses a significant development as SuperRare steps into the Bitcoin Ordinals ecosystem, collaborating with Bitcoin-based art platform Gamma.
TO BITCOIN AND BEYOND .•*
We’re expanding beyond Ethereum with our first Ordinals release on Bitcoin
With @killeracid and @trygamma
Read more in the article below by @decryptmedia ↴
— SuperRare 💎 (@SuperRare) March 14, 2024
SuperRare’s embrace of the Ordinals ecosystem signals a shift towards a more multi-chain approach. Previously, the NFT marketplace solely facilitated transactions on the Ethereum blockchain.
Pioneering Pathways with Bitcoin Ordinals
Zack Yanger, senior vice president of SuperRare Labs, shares that the decision to explore Bitcoin NFTs stemmed from overwhelming interest within their artist community.
This exploration led to the decision to integrate Ordinals to support platform artists. Yanger notes that Bitcoin Ordinals offer artists increased liquidity, stating:
“Bitcoin is the largest blockchain with the most potential liquidity by far. If we can help artists connect with a new class of crypto collectors, we consider that to be a massive win.”
Navigating Uncharted Territory in the Bitcoin Ecosystem
Reflecting on their venture into the Bitcoin Ordinals ecosystem since 2023, Yanger acknowledges the robust development witnessed within the space. He lauds the Ordinals teams as “thoughtful” and “intelligent.”
Despite the innovative nature of Ordinals, not all members of the crypto community share the same enthusiasm. Some have criticized Ordinals for introducing digital spam into the Bitcoin network.
However, Yanger remains optimistic about the future of Bitcoin Ordinals, particularly for high-value segments of the digital art market. He envisions a promising future for Ordinals, especially in segments where higher transaction fees are less prohibitive.
Anticipating the Evolving Landscape
Yanger expresses anticipation about the future trajectory of inscription fees as Bitcoin’s price continues to soar. Notably, Bitcoin reached a new all-time high of $73,737.94 on March 14, according to CoinGecko.
SuperRare marks its debut on Bitcoin Ordinals with a collaborative project featuring artist Killer Acid, unveiling the “No Brainers” NFT collection. Known for their enigmatic, humorous, and intricate psychedelic art, Killer Acid’s collaboration with SuperRare heralds an exciting chapter in the NFT realm.
