Sotheby’s Sells Pixelated Avocado Bitcoin NFT For $100,000

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  • A Bitcoin NFT featuring a pixelated avocado has changed hands for over $100,000 at Sotheby’s
  • The collectible is part of the BitcoinShrooms NFT collection
  • Three images from the collection fetched over $450,000 on the auction house

Three Bitcoin NFTs in the BitcoinShrooms collection have fetched over $450,000 at Sotheby’s with one collectible featuring a pixelated avocado changing hands for more than $100,000. The sale was the first on the auction house to feature collectibles powered by the Bitcoin blockchain. The sale happens six months after 3AC’s Grails NFT collection fetched more than $10 million at the auction house, a sign that NFTs sales at the auction house attract serious collectors.

Raising Awareness About Bitcoin

Apart from the pixelated avocado, auctioned collectibles also included two other pixelated images with one seemingly being from the Super Mario franchise. The three images attracted 148 bidders with close to 100 of them being new participants in Sotheby’s auctions.

The three collectibles fetched more than the auction house had anticipated. According to Sotheby’s, the pixelated avocado, for example, sold for slightly above $101,000 against a projected maximum of $30,000.

BitcoinShrooms are Ordinals inscriptions that strive to capture Bitcoin’s life in its first 13 years, with the collection’s pseudonymous creator disclosing that he intends to use the collection to “raise awareness about Bitcoin.”

Speaking to Coindesk, Sotheby’s spokesperson Derek Parson hinted that the auction house is planning to auction more inscriptions from the collection.

Christie’s Also Attracts Deep-pocketed Collectors

The auction comes a few months after Sotheby’s announced that it will auction the NFT of the Snow Crash manuscript and that it’s working on a proprietary NFT marketplace

Sotheby’s, however, isn’t the only NFT auction house attracting serious collectors. Christie’s, another auction house, for example, auctioned nine CryptoPunks for over $14 million

With a pixelated avocado Bitcoin NFT fetching over $100K, it’s to be seen whether it marks the start of an NFT bull market.