Ordinals ‘Genesis Cat’ Fetches $254K in Sotheby’s Auction

“Genesis Cat,” a 1-of-1 digital paintings within the Quantum Cats assortment on the Bitcoin blockchain, has achieved a outstanding sale value of $254,000 together with a number of different notable gross sales at a current Sotheby’s public sale.

‘Genesis Cat’ Fetches Over Quarter Million Dollars in Sotheby’s Sale

“Genesis Cat,” a novel piece of digital artwork created on the Bitcoin blockchain by means of the Ordinals protocol, sold for $254,000 at a current Sotheby’s public sale.

Created by the artist and engineer Francisco “FAR” Alarcon, Genesis Cat is a particular 1-of-1 piece within the Quantum Cats assortment, produced by the Taproot Wizards group. Initially estimated to promote for between $15,000 and $20,000, the paintings considerably exceeded expectations.

Sotheby’s Metaverse account on X said of the sale, “With over 50 Bids, ‘Genesis Cat’ by @0xfar for Taproot Wizards’ has achieved a formidable $254,000 (6.31 BTC), 12X over the excessive estimate.”

The Quantum Cats assortment, comprising 3,333 distinct digital cats, is the primary public assortment from Taproot Wizards. The quarter million sale of Genesis Cat, because the centerpiece of the Quantum Cats assortment, represents a welcome end result and confidence booster for Taproot Wizards, particularly for his or her first main mission following their profitable fundraising of $7.5 million final yr.

The current Sotheby’s public sale, titled “Natively Digital: An Ordinals Curated Sale,” featured 18 different digital artwork items along with “Genesis Cat.” Highlights of the public sale included Lot 17 “Black Rare Sat (20,159,999,999,999)” which fetched $165,100, Des Lucréce’s Lot 11 “Benediction from Between Worlds” offered for $95,250, and Asprey Studio’s “Asprey Bugatti Crown Egg Number 10” achieved $82,550. Sotheby’s Head of Digital Art and NFTs Michael Bouhanna revealed in a post on X that each one heaps have been offered, with 641 bids made, culminating in a complete sale of $1,097,000.

#AuctionUpdate: A contemplative piece that showcases @DesLucrece’s identification and signature fashion, ‘Benediction from Between Worlds’ achieved $95,250 (2.36 BTC), smashing the excessive estimate by 6X. pic.twitter.com/6nL0lL4fjg

— Sotheby’s Metaverse (@Sothebysverse) January 22, 2024

The sale of “Genesis Cat” and different items on this public sale highlights the rising reputation of NFT-like creations on the Bitcoin blockchain. This motion has introduced each excitement and scrutiny from throughout the crypto group, because it represents a shift in using the Bitcoin blockchain’s bandwidth, historically reserved for financial transactions.

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