Yuga Labs Announces New NFT Collection; Going live on the Bitcoin Blockchain
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On Tuesday, Yuga Labs, one of the largest non-fungible token players and the brand behind Bored Ape Yacht Club, announced that it is launching an original and experimental NFT collection consisting of 300 generative artworks on the Bitcoin Blockchain.
Read more about the inspiration behind TwelveFold and some background on ordinary inscriptions on our blog:https://twitter.com/yugalabs/status/1630342396629139456?ref_src=twsrc%5Etfw“>February 27, 2023
Greg Solana, co-founder, Yuga Labs, shared the news through an official blog post titled “Introducing Twelvefold.” The collection pieces will be written in satoshis, the smallest identifiable Bitcoin units, and will be minted using the Ordinal Theory protocol. The regular NFT collection is said to be inspired by the relationship between time, mathematics and variability.
Twelvefold is a base 12 system that will be hosted on a 12×12 grid, making it “a visual allegory for the cartography of data on the Bitcoin blockchain.
Developed by Casey Rodarmor, the Ordinal protocol powers inscriptions and gives individual satoshis an identity to help them track and transfer. Each satoshi is assigned a sequential number and later inscribed with data in the form of images, texts or videos and hosts one’s artwork on a chain.
“In effect, this allows satoshis to operate as if they are non-fungible, essentially enabling the concept of NFTs on the Bitcoin blockchain,” the blog also said.
Yuga Labs will announce the timing and auction details for the collection in the coming week.
