SuperRare, a leading non-fungible token (NFT) marketplace, has ventured into the Bitcoin Ordinals ecosystem through its partnership with Gamma, a Bitcoin-based art platform. This move signifies SuperRare’s shift towards a multichain approach, expanding beyond its initial focus on the Ethereum blockchain.
According to Zack Yanger, senior vice president of SuperRare Labs, the decision to explore Bitcoin NFTs was driven by a notable interest from the platform’s artist community. This interest prompted SuperRare to explore Ordinals, aiming to provide support for artists on their platform. Yanger emphasized the potential liquidity benefits for artists on the Bitcoin blockchain.
Yanger shared insights into SuperRare’s journey into the Bitcoin Ordinals ecosystem, which began in 2023. He acknowledged the significant developments within Ordinals and praised the thoughtful and intelligent teams contributing to its growth.
While hailed as an innovation by some, Bitcoin Ordinals have faced criticism within the crypto community. Some members have raised concerns about digital spam on the Bitcoin network due to Ordinals.
Despite the skepticism, Yanger expressed confidence in the longevity of Bitcoin Ordinals. He believes that, especially for high-value segments of the digital art market, Ordinals offer a promising future, particularly as Bitcoin’s price continues to rise.
Yanger also highlighted the evolving dynamics of inscription fees on Bitcoin Ordinals, particularly in light of recent price fluctuations in the Bitcoin market. As Bitcoin’s price soared to new heights, reaching an all-time high on March 14, Yanger expressed interest in observing the impact on fee structures.
To kickstart its presence on Bitcoin Ordinals, SuperRare collaborated with the artist Killer Acid to launch an NFT collection titled “No Brainers.” Known for his mysterious, humorous, and intricate psychedelic art, Killer Acid’s collection marks SuperRare’s entry into the Ordinals ecosystem.
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