Sotheby's first auction of Ordinals inscriptions fetched five times the high estimate

Sotheby’s first auction of Bitcoin Ordinals inscription Bitcoin Shrooms generated approximately US$450,000, five times the highest estimate. The auction, which ended on Wednesday, included three images, including a pixelated avocado that fetched more than $100,000 and a mushroom whose design appears to be derived from the Super Mario series, which sold for more than $240,000. . There were a total of 148 bids on the three lots, with more than two-thirds of the bidders being new Sotheby's clients. (CoinDesk) Previously, Sotheby's Digital Art Department announced that it will auction works from the Bitcoin Ordinals project BitcoinShrooms designed by anonymous artist Shroomtoshi. The auction will be held from December 6th to 13th local time, with three works available for bidding. The BitcoinShrooms series initially mint on-chain on October 22nd. The series includes two individual mushrooms and a pixelated avocado seed, named BIP39 (the common standard for creating mnemonics needed for seed phrases). The three works are expected to sell for approximately $20,000 to $30,000, and the auction house is also accepting cryptocurrency bids. Michael Bouhanna, Sotheby’s head of digital art, said in a statement that this art auction marks Sotheby’s first auction of Ordinals art.