David - Cryptocurrency Specialist
Yuga Labs, the creator of the immensely popular Bored Ape Yacht Club collection, is set to release its latest collection of non-fungible tokens (NFT) on the trusted Bitcoin blockchain. The TwelveFold collection, which features 300 generative art NFTs, is minted on the Bitcoin-based Ordinals protocol, and will serve as a "visual allegory for the cartography of data on the Bitcoin blockchain."
The TwelveFold collection includes hand-drawn features as well as 3D elements, and it will be presented on a 12x12 grid. Yuga Labs is hoping to capitalise on the growing interest in the Bitcoin NFT market, with the Ordinals protocol gaining traction since its launch last month.
Unlike Yuga Labs' previous Ethereum-based collections, TwelveFold does not come with extended utility or any affiliation to the Bored Ape Yacht Club collection. In a blog post, co-founder Greg Solano stated that the collection's creation was a departure from what was expected from Yuga Labs.
The release of TwelveFold reflects the growing interest in Bitcoin NFTs, which some experts believe have contributed to the recent surge in cryptocurrency prices. The Ordinals protocol has seen one of its leading collections, Ordinal Punks, sell one of its tokens for 9.5 BTC, or about $214,000. The artwork closely resembles Yuga Labs' popular CryptoPunks collection.
Yuga Labs plans to open its TwelveFold auction later this week and is encouraging its Ethereum-savvy audience to prepare their Bitcoin account wallets ahead of the mint. With the popularity of both Bitcoin and NFTs on the rise, Yuga Labs' latest collection could be a significant step forward in the development of NFT crypto.