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BAYC Creator Yuga Labs to Launch NFT Collection on Bitcoin Ordinals
Bored Ape Yacht Club (BAYC) creator Yuga Labs has decided to ride on the Bitcoin Ordinals wave with the launch of its next NFT collection on the Bitcoin blockchain.
In a tweet on Tuesday, February 28th, Yuga Labs announced TwelveFold, a limited collection of non-fungible tokens (NFTs) on the Bitcoin-based Ordinals protocol, which has taken the NFT space by storm since its inception last month.
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
TwelveFold: A 300-Piece Generative Art Collection
In a blog post explaining TwelveFold, Yuga Labs said that its upcoming NFT project would be an “original and experimental 300-piece generative art collection inscribed onto satoshis,” and would explore the “relationship between time, mathematics, and variability.”
According to TweleveFold FAQs, unlike previous Yuga Labs’ NFT projects, the pieces featuring TwelveFold were “crafted in-house by Yuga Labs’ art team using 3D modelling, algorithmic construction, and high-end rendering tools.”
The blog post 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.
The collection includes highly-rendered 3D elements as well as hand-drawn features which serve as a homage to the ordinal inscriptions currently done by hand.”
Due to the limited number of pieces available, TwelveFold will be released in an auction-style format, with all bids to be made in Bitcoin. Project FAQ suggests an auction later this week. Time and auction mechanics will be released at least 24 hours before the auction.
Bidders are required to have a self-custodial Bitcoin wallet with funds available in it to place the bid. Yuga Labs has advised bidders to have an empty Bitcoin address to receive and store the TwelveFold Inscribed Satoshi as wallets do not currently support the transfer of individual satoshis. Mixing NFTs with other BTC holdings can result in the accidental transfer of inscribes satoshis with normal Bitcoin transfers.
BAYC’s Dookey Dash Key Sold for 1,000 ETH
Adding more to its records, the Golden Key from its recently released skill-based NFT game Dookey Dash has been sold for 1,000 ETH (approximately 1.6 million) on Monday, February 27th.
Twitch streamer Kyle Jackson, who is known by his pseudonym Mongraal, won the Dookey Dash’s Golden Key NFT on February 16th for posting the highest score in a competition hosted by Yuga Labs.
On Monday, February 27th, he announced that he had agreed to sell the key for 1000 ETH to Adam Weitsman, a BAYC holder and CEO of scrap metal shredding company Upstate Shredding.
I have agreed to sell the key for 1000 ETH to @AdamWeitsman. Super nice guy and thrilled the sale went through with him.
A special thank you to @yugalabs for hosting an incredible competition. I look forward to competing in future events. Royalties will be paid in full.
1/2— Mongraal (@Mongraal) February 27, 2023
