Yuga Labs is once again shaking up the world of NFTs, this time by introducing a new Bitcoin Ordinals collection called TwelveFold on February 28. With a limited edition of only 300 generative pieces, each piece will be inscribed on satoshis, the smallest unit of Bitcoin.
The new collection is set to be released via auction, with the bidding token being Bitcoin. Interested buyers will be notified 24 hours in advance and will need to provide an empty BTC address to participate in the auction. This move by Yuga Labs represents the growing trend of NFTs moving onto the Bitcoin blockchain, thanks to the Ordinals protocol.
The artwork itself was created by Yuga Labs’ in-house team using 3D modeling, algorithmic construction, and high-end rendering tools.
While it may not have any other utility or relationship with previous, ongoing, or future Ethereum-based Yuga projects, the TwelveFold collection represents a complete art project in its own right.
The Bitcoin network saw a sudden surge in activity last week as Ordinals took over the blockchain. This protocol allows the inscription of NFTs into one Satoshi, resulting in an explosion in Bitcoin’s mempool, taproot utilization, and inscription fee rates. While this may have caused some concerns, it also highlights the growing interest in NFTs on the Bitcoin blockchain.
As Yuga Labs prepares to release its TwelveFold collection, it is clear that the world of NFTs and blockchain technology continues to evolve and innovate.
With new and exciting developments happening all the time, it is an exciting time for anyone interested in this rapidly growing industry.
