Bitcoin NFTs are proving too appealing to ignore, as: Yuga Labs will attest. The company behind popular collections such as the Bored Ape Yacht Club is now planning to auction a limited-edition art collection on the Ordinals protocol. This is according to an official tweet made on Feb 28.
Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain. https://t.co/aFWEIhzqcI pic.twitter.com/PjWABKKBr4
— Yuga Labs (@yugalabs) February 27, 2023
Dubbed: “TwelveFold,” the collection will feature 300 computer-generated artworks inspired by themes of mathematics, time, and the Bitcoin blockchain. An official statement on the collection reads, “TwelveFold is a base-12 art system localized around a 12×12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain.”
Thanks to Ordinals, users of the Bitcoin blockchain can: “inscribe” images, text, audio, and other data formats directly on Satoshis. Since the project launched towards the end of January, there have been over 207,000 inscriptions or NFT mints, according to Dune Analytics.
“Satoshis are the smallest individually identifiable units of a Bitcoin. An inscribed satoshi can be located by tracking when that satoshi was minted in time via the Ordinal Theory protocol.”
Therefore, inspired by this ingenious concept, Yuga’s collection “explores the relationship between time, mathematics, and variability.”
Growing Popularity Of Bitcoin NFTs Inspired Yuga Labs To Launch Its Own Collection
The company cites the growing popularity of Bitcoin NFTs as the reason they chose to drop a collection on the blockchain.
“Stepping into the Ordinals Discord a month ago felt like getting a glimpse of the 2017-era Ethereum NFT ecosystem. It’s the type of energy and excitement we love at Yuga.”
Speaking on the upcoming auction, Greg Solano, co-founder of Yuga Labs, notes that all: “these choices are a departure from what is expected” of the company.
The auction will kick off at the beginning of March, and those who want to get their hands on a limited-edition digital artwork from this collection will need to run a self-custodial Bitcoin wallet and have an empty Bitcoin address. All bids will take place in Bitcoin.
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Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.