Nonfungible token (NFT) marketplace SuperRare has jumped into the Bitcoin Ordinals ecosystem through its partnership with Bitcoin-based art platform Gamma.
SuperRare’s move into the ecosystem marks a transition to becoming more multichain in its operations. Initially, the NFT marketplace only supported transactions on the Ethereum blockchain.
SuperRare announces expansion into Bitcoin Ordinals. Source: @SuperRare on X
Zack Yanger, senior vice president of SuperRare Labs, told Cointelegraph that the decision to move into Bitcoin NFTs follows a significant show of interest from their artist community.
This led to the decision to experiment with Ordinals to support artists using their platform. Yanger added that liquidity is one of the upsides of Bitcoin Ordinals for artists. He said:
“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.”
Yanger highlighted that after starting to explore the Bitcoin Ordinals ecosystem in 2023, he met many people working within the space and realized there’s been a lot of development within Ordinals. Yanger described the teams building on Ordinals as “thoughtful” and “intelligent.”
While many deem Ordinals an innovation, not all crypto community members are enthusiastic about the protocol. Some even accuse Ordinals of bringing digital spam onto the Bitcoin network.
Despite this, Yanger believes that Bitcoin Ordinals are here to stay. “For the higher-value end of the digital art market, where higher transaction fees are slightly less of an issue, I can see Ordinals having a very bright future.”
Related: ‘No such thing as spam’ — OKX exec on Bitcoin Ordinals
Yanger also said he is looking forward to seeing what will happen to inscription fees as Bitcoin’s (BTC) price grows, referring to the recent BTC price action. On March 14, Bitcoin reached a new all-time high of $73,737.94, according to crypto tracker CoinGecko.
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