BAYC Inventors Yuga Labs Launches First NFT Collection on Bitcoin
Yuga Labs, the renowned NFT brand known for pioneering the field Boring monkey Yacht Club (BAYC) ecosystem, has recently revealed the exciting news of the release of its latest offering – the TwelveFold.
This innovative generative art collection consists of 300 unique pieces of digital art inscribed on satoshis – the smallest and indivisible units of Bitcoin, making it the first NFT collection of its kind to be embedded on the Bitcoin blockchain. The inscription is made possible by the Ordinal protocol, which allows each piece in the collection to be linked to a unique and specific satoshi.
As a result, each artwork in the TwelveFold collection is not only a stunning piece of art in its own right, but also a significant and unique asset with a permanent and immutable record on the Bitcoin blockchain.
Yuga Labs’ TwelveFold collection
Yuga Labs CEO Greg Solano recently wrote in a blog post about the TwelveFold collection, an art system based on the number 12 and a 12 x 12 grid that represents data on the Bitcoin blockchain. The collection includes both 3D and hand-drawn elements, and pays homage to traditional inscriptions.
According to Yuga Labs, the TwelveFold collection is an exploration of the relationship between time, mathematics and variation. The use of a base-12 system in the subject is a visual representation of the non-uniform base of calculation used in the measurement of time, which can vary from base 60 to base 12.
While Yuga Labs hasn’t given much detail about the reasons behind the collection, some followers have expressed surprise at the launch. Solano himself acknowledged the unexpected nature of the project in the same blog post, saying that “all these choices are a departure from what’s expected of Yuga. But you know. Screw does expected things.”
In a tweet, BORED expressed skepticism that a game company could enter the art world successfully, suggesting that the funds raised from the TwelveFold collection should be used to support artists in OtherSide’s metaverse ecosystem.
Other commenters echoed this sentiment, but Yuga Labs clarified that the collection is intended solely for collection and experimentation, with no further use planned. Despite this, some fans believe the project could help Yuga gain a foothold in the emerging NFT market and attract new entrants to their ecosystem.
In addition, Yuga Labs’ collection, which bears the signature of Satoshi, benefits from the latest advances in blockchain technology. The protocol allows NFTs to be written onto the Bitcoin blockchain, thanks to the Taproot upgrade. These advances have resulted in an increase in block height on the blockchain and sparked lively discussions about Bitcoin’s suitability to host NFTs.
The launch of the Bitcoin network has created new opportunities for NFTs
The development of the Ordinals protocol has enabled the creation of NFTs on the Bitcoin network, deviating from the typical association of NFTs with the Ethereum blockchain. This protocol has already generated more than 100,000 ordinals. However, the increase in NFT activity on the Bitcoin network has sparked concerns about potential congestion in financial transactions.
The popularity of Ordinals has resulted in an increase in average transaction size to 1100 bytes, a 100% increase. Glassnode is nevertheless optimistic that this trend will not negatively affect financial transactions. Despite these concerns, there remains a high level of interest in NFTs, as demonstrated by the anticipated attention the unveiling of Yuga Labs TwelveFold NFT collection is expected to receive.
Final thoughts
Yuga Labs has once again broken new ground in the NFT space by launching the TwelveFold collection, which uses the innovative Ordinal protocol to write unique digital artworks on satoshis on the Bitcoin blockchain. This not only makes TwelveFold a visually stunning collection, but also a unique and valuable resource with an immutable record on the blockchain.
Ken Emmanuel is a blockchain content writer, a Web3 enthusiast and a social media management strategist, he enjoys writing educational content to help people become more knowledgeable and inspired. The growth of any organization he works with is always his priority. He is a geographer by profession and loves to read.
