Quick take:
- Yuga Labs has launched a limited edition of 300 generative NFTs inscribed onto Satoshis.
- TwelveFold becomes the latest NFT collection to debut on the Bitcoin blockchain amid the rising popularity of Ordinals NFTs.
- The auction is expected to go live later this week following a 24-hour notice.
Yuga Labs has announced an independent NFT project to be launched on the Bitcoin blockchain. The Bored Ape Yacht Club creator is inscribing a limited edition of 300 generative NFTs onto Satoshis.
Dubbed the TwleveFold, the collection is scheduled to go on auction later this week following a 24 notice. The announcement comes amid a rapid rise in the popularity of Ordinals NFTs.
Yuga Labs describes TwelveFold as “a limited edition, experimental collection of 300 generative art pieces inscribed onto satoshis on the Bitcoin blockchain.”
Based on the information provided via an FAQ section on the collection’s official website, the NFTs represent a complete art project and “will not have other utility or interact with or be related to any previous, ongoing, or future Ethereum-based Yuga projects.”
That last part seems to attract mixed reactions from the community with one Twitter user quick to point out how previous Yuga Labs projects have the potential to be interconnected into one big universe.
“Nothing against Bitcoin Ordinals (they are cool) but this strikes me as pretty off-brand and random. Everything thus far in the Yuga ecosystem feels like it has the potential to be interconnected but I don’t get that sense from this,” Bored wrote in a reply to Yuga Labs’ official tweet announcing TwelveFold.
Another collector, NFTBeliever was quick to respond to Bored’s comment pointing out how Yuga Labs’ latest project could be used to onboard bitcoin enthusiasts (who have been against NFTs) to the world of non-fungible tokens.
“Honorary apes aren’t very connected either. I think this is basically an olive branch to the bitcoin community who have been pretty strong against NFTs in the past.”
According to Yuga Labs, TwelveFold was created in-house by its art team, which used generative 3D modelling and algorithmic construction to create 300 art pieces.
Users will need a self-custodial wallet containing bitcoin that they will use to participate in the auction. Furthermore, they will also require an empty address to receive the inscribed digital art if their bid is successful.
According to Yuga Labs, the empty address prevents the risk of transferring the inscribed satoshi in the course of normal bitcoin transactions.
****
Stay up to date:
Subscribe to our newsletter using this link – we won’t spam!
