Sotheby’s Digital Art Department is making waves in the art world with its groundbreaking announcement of the first-ever auction featuring Bitcoin Ordinals art. This unique collection, a creation of the enigmatic artist known as Shroomtoshi under the moniker BitcoinShrooms, is set to captivate enthusiasts and collectors alike. The featured piece, a composition showcasing two distinct mushrooms and a pixelated avocado seed, is poised to fetch a notable sum of $20,000 to $30,000. Adding a contemporary twist, the auction will accept bids in cryptocurrency, aligning seamlessly with the theme of the digital art on display.
Scheduled for this December between 6 and 13, the online sale by Sotheby’s in New York marks the debut of select works from the highly anticipated Bitcoin Ordinals project. The rest of the collection, shrouded in secrecy, has not yet been unveiled, heightening the anticipation surrounding this exclusive event.
Shroomtoshi, the mastermind behind BitcoinShrooms, operates with an air of mystery akin to Satoshi Nakamoto. Shroomtoshi aims to advocate for values such as freedom and self-sovereignty, aspiring to educate and inspire appreciation for the cultural and technological revolution brought about by BTC.
Meanwhile, the Bitcoin community was recently rocked by a surprising turn of events. BTC Core developer Luke Dashjr raised concerns about the ‘Inscriptions’ within the Ordinals project. Dashjr pointed out that these inscriptions exploit a vulnerability in Bitcoin Core, leading to network congestion through blockchain spam.
If not addressed before the release of version v27 next year, Ordinals and BRC-20 may face elimination. Users and miners, reliant on Ordinals and BRC-20, criticized developers for this decision, triggering an immediate 15% drop in the price of ORDI within an hour.
Bitcoin Ordinals Fate Hungs In Balance
Dashjr acknowledged the recent fix for this bug in BTC Knots v25.1, attributing the delay to disruptions in his workflow. However, with Bitcoin Core still vulnerable in the upcoming v26 release, the community anticipates a solution before the v27 release, especially considering the over 250,000 pending transactions contributing to current network congestion.
The decision to potentially terminate Ordinals and BRC-20 drew criticism from the crypto community, particularly regarding concerns about miners losing income. The introduction of Bitcoin Ordinals and BRC-20 initially resulted in increased profits for miners, making the proposed elimination a contentious topic within the cryptocurrency ecosystem. As developments unfold, the crypto community awaits further clarity on the fate of Ordinals and BRC-20.