A rare piece of digital art based on Bitcoin has fetched a staggering price at a prestigious auction house. The artwork, titled “Quantum Cat”, is part of the Bitcoin Ordinals project, which aims to create unique and artistic representations of Bitcoin transactions. The artist behind the project, known as FAR, has sold the “Genesis Cat” inscription for 6.31 BTC, or about $254,000, at Sotheby’s.
Bitcoin Ordinals is a creative endeavor that combines cryptography, mathematics, and art. The project uses a special algorithm to generate visual patterns from Bitcoin transactions, based on their ordinal numbers. An ordinal number is the position of a transaction in the blockchain, such as the first, second, or third transaction. Each ordinal number has a unique and beautiful pattern associated with it, which can be printed on a metal plate and signed by the artist.
The project was launched in 2020, and has since produced over 600,000 inscriptions, covering the entire history of Bitcoin transactions. The inscriptions are divided into different series, such as the Genesis Series, the Halving Series, the Pizza Series, and the Quantum Series. Each series has a different theme and aesthetic, reflecting the significance and diversity of Bitcoin’s history.
Why is Quantum Cat so valuable?
Quantum Cat is the first inscription of the Quantum Series, which is the most recent and advanced series of Bitcoin Ordinals. The Quantum Series uses a quantum-inspired algorithm to create complex and dynamic patterns, which change depending on the angle and distance of the viewer. The Quantum Series also incorporates elements of quantum physics, such as superposition, entanglement, and uncertainty, to create a metaphor for Bitcoin’s nature and potential.
Quantum Cat is the most coveted piece of the Quantum Series, as it represents the first Bitcoin transaction of 2023. The transaction was made on January 1, 2023, at 00:00:01 UTC, and had an ordinal number of 600,001. The inscription features a cat-like shape, which is a homage to Schrödinger’s cat, a famous thought experiment in quantum mechanics. The cat is also a symbol of curiosity, creativity, and independence, which are some of the values of Bitcoin.
Quantum Cat is not only a stunning piece of art, but also a rare and historical artifact. It is one of the only 21 inscriptions of the Quantum Series that will ever be produced, as the series is limited by the number of Bitcoin halvings. It is also the first Bitcoin Ordinals inscription to be sold at a major auction house, which marks a milestone for the project and the recognition of Bitcoin art in the mainstream.
How did the auction go?
The auction of Quantum Cat was part of Sotheby’s “Natively Digital: A Curated NFT Sale”, which featured a selection of digital artworks from various genres and platforms. The auction was held online, and attracted over 50 bids from around the world. The bidding started at 1 BTC, and quickly escalated to over 6 BTC. The final bid was made by an anonymous buyer, who paid 6.31 BTC, or about $254,000, for the artwork. The buyer will receive the metal plate with the inscription, as well as a digital certificate of authenticity.
The auction of Quantum Cat was a huge success, not only for the artist and the buyer, but also for the Bitcoin Ordinals project and the Bitcoin community. It demonstrated the growing interest and appreciation for Bitcoin art, as well as the potential and innovation of Bitcoin technology. It also showcased the diversity and creativity of the NFT space, which is not limited to digital images or videos, but can also include physical and interactive artworks.
Quantum Cat is a remarkable example of how Bitcoin can inspire and empower artists to create original and meaningful works of art. It is also a testament to the value and beauty of Bitcoin, which transcends its monetary function and becomes a source of culture and expression.