Yuga Labs is making headlines once again, this time with the launch of its latest NFT collection, called TwelveFold. What’s interesting about this collection is that it’s being introduced to the Bitcoin blockchain, marking a significant step in the evolution of NFTs.
The TwelveFold collection consists of 300 generative pieces that are “inscribed on satoshis” on the Bitcoin network. According to Yuga Labs, the artwork represents a complete art project and will not have any other utility or be related to any of their previous or future Ethereum-based projects.
The NFTs in the TwelveFold collection were created by Yuga Labs’ in-house team using 3D modeling, algorithmic construction, and high-end rendering tools. This limited edition collection is sure to appeal to art collectors and crypto enthusiasts alike.
Those interested in bidding on the TwelveFold collection will need to use Bitcoin as the token for bidding. Yuga Labs has stated that the auction will take place later this week, and interested parties will receive notification 24 hours in advance. Additionally, the artwork will require an empty BTC address.
The Ordinals protocol has been responsible for bringing NFTs to the Bitcoin blockchain, and it has gained a lot of attention in recent times.
The number of ordinals generated through this protocol has surpassed 100,000, indicating that NFTs on Bitcoin could become an established idea. However, some signs suggest that the interest may taper off.
Last week, the Ordinals protocol took over the Bitcoin network, resulting in a sudden surge in activity. The result was that Bitcoin’s mempool, taproot utilization, and inscription fee rates began exploding, though they have since dropped.
