SuperRare Expands Into Bitcoin Ordinals: Partners with Gamma and Launches Artist Collaboration
Summary:
SuperRare, a nonfungible token marketplace, has partnered with the Bitcoin-based art platform Gamma to enter the Bitcoin Ordinals ecosystem. This move signifies SuperRare's shift away from solely supporting Ethereum transactions to become more multichain. The initiative was motivated by a growing interest from their artist community, which led them to explore Bitcoin Ordinals. Despite some crypto community members criticizing Ordinals as digital spam, SuperRare holds a positive view of their future. Furthermore, SuperRare has collaborated with artist Killer Acid to launch an NFT collection titled “No Brainers.”
SuperRare, a marketplace for nonfungible tokens (NFTs), has stepped into the Bitcoin Ordinals system through a strategic alliance with Gamma, a Bitcoin-centric art platform. This represents SuperRare's shift towards a more blockchain-diverse approach, having been exclusively tied to Ethereum transactions previously. Consequently, SuperRare is broadening its horizons by embracing the Bitcoin Ordinals.
SuperRare Labs' Senior Vice President, Zack Yanger, disclosed to Cointelegraph that their transition to Bitcoin (BTC) NFTs was sparked by a solid interest exhibited from their array of artists. Consequently, they felt compelled to trial Ordinals to better support these artists on their platform.
One major benefit of Bitcoin Ordinals that Yanger noted was the potential liquidity it offered to artists. He affirmed, “With Bitcoin being the blockchain network with the highest potential liquidity, enabling artists to interact with a fresh category of crypto collectors would signify an enormous victory.”
Yanger spotlighted that since the company began delving into the Bitcoin Ordinals system in 2023, he has crossed paths with numerous individuals involved in the sector, coming to the realization that Ordinals have experienced significant growth. Yanger characterized the teams developing on Ordinals as "brainy" and "considerate."
While Ordinals have been heralded as revolutionary by some, they have not been universally embraced by the crypto community members. Quite a few detractors have labelled Ordinals as injecting digital spam into the Bitcoin network. Regardless of the criticism, Yanger affirmed his conviction that Bitcoin Ordinals have a firm footing in the future, stating, “In the context of the upper-tier digital art market, where the impact of higher transaction fees is slightly mitigated, I predict a prosperous path ahead for Ordinals.”
Further, Yanger indicated his anticipation towards the future course of inscription fees as Bitcoin's valuation escalates, pointing to the recent BTC price movement. Bitcoin set a new record high at $73,737.94 on March 14, as per crypto tracking platform CoinGecko.
In its foray into Bitcoin Ordinals, SuperRare has teamed up with Killer Acid, an artist revered for his enigmatic, humorous, and intricate psychedelic art, to launch an NFT collection titled “No Brainers.”
In other news, it is predicted that China's intensified Bitcoin bull run could potentially push the value up to $1M by 2028, forecast by Bitcoin Man and X Hall of Flame.
Published At
3/15/2024 11:47:37 AM
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