Yuga Labs drops a Bitcoin Ordinals NFT collection
The Alpha:
- Yuga Labs has announced a new generative art project launching later this week (February 26 – March 4).
- The 300-piece NFT collection, titled “TwelveFold”, will be minted on the Bitcoin blockchain as Ordinals Inscriptions.
- Details of the collection, which will be released in an auction format, will be announced 24 hours prior to release via Yuga Lab’s social media.
Dive Deeper:
The allure of Ordinals Inscriptions, the latest craze to take the NFT space by storm, has become undeniable. As both new and established creators venture into the burgeoning market sector (avoiding concerns from crypto maximalists that Bitcoin NFTs are causing strain on the world’s oldest blockchain), prominent Web3 power player Yuga Labs has now announced plans to do the same.
On February 27, Yuga Labs, creators of the wildly popular Bored Ape Yacht Club, announced a new experimental NFT collection called “TwelveFold.” The upcoming project, which was teased briefly using Twitter, will be significantly limited compared to the larger Yuga ecosystem and contain a maximum of 300 pieces. Furthermore, it is important to note that the collection will not interact with or be related to any past, ongoing or future Ethereum-based Yuga projects.
Unlike previous Yuga ventures, the pieces that make up the TwelveFold collection were created in-house by Yuga Labs’ art team using 3D modeling, algorithmic construction, and advanced rendering tools. According to Yuga, these rendering techniques produce high-quality results, which typically require large amounts of data to store and can be expensive for creators. Although the use of Ordinals Inscriptions though, the Yuga apparently circumvented these storage and financial limitations.
Yuga describes TwelveFold as a “base 12 art system located around a 12×12 grid.” Billed as a visual allegory for the cartography of data on the Bitcoin blockchain, the collection will include highly rendered 3D elements in addition to hand-drawn features, serving as an homage to existing Ordinal Inscriptions, most of which are currently executed by hand.
What will be next?
Potentially due to the high profile of this drop and the limited number of pieces available, TwelveFold will be released in an auction style, with all bids in Bitcoin. To participate, bidders will need a self-storage wallet containing Bitcoin and a blank Bitcoin address to receive a chip if a bid is won.
Exact details around the time of the auction will be announced 24 hours before the auction goes through Yuga Labs’ social media accounts and the official Yuga Labs news blog. For more information about the project, users can visit the TwelveFold website. And for more information on Ordinals Inscriptions, Yuga recommends that users familiarize themselves with this guide to prepare to participate in the auction.
