Yuga Labs, the business responsible for the Bored Ape Yacht Club collection, the most successful non-fungible token (NFT) collection in the world, has announced intentions to launch the company’s very first Bitcoin-based non-fungible token initiative later on in this week.
The company announced (1) on Monday as it moves on with plans to ride the wave of Bitcoin NFT.
Yuga Laboratories has declared that it would publish a new NFT collection under the moniker “TwelveFold,” as stated in the announcement.
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
Yuga Labs Discloses Information About Its Latest NFT Collection Based on Bitcoin
The exhibit, which will be issued on the Ordinals protocol built on Bitcoin, will consist of 300 limited-edition non-fungible tokens (NFTs) of generative art that Yuga Labs designed.
It is interesting to note that all of the artworks have been arranged on a grid of 12 by 12, as this provides a visual illustration of how data has been saved on the Bitcoin blockchain.
In addition to that, they will incorporate some hand-drawn components alongside the 3D graphic aspects.
It seems like the debut of this collection is one of the most high-profile endeavors undertaken by Ordinals yet.
This has been the case since the technology that allows the artwork to be committed to Bitcoin was released a month ago.
In practice, each piece of art has a permanent connection to a single Satoshi, which equals 1/100,000,000 of a Bitcoin.
Meanwhile, it is important to note that the new project that Yuga Labs is working on may have turned out differently than expected.
The prosperity of Yuga Labs’ blue-chip BAYC collection, which is stored on the Ethereum blockchain, is the foundation upon which the company’s empire is constructed.
Similarly, every other project that has ever been developed under Yuga may now be found on the most prominent network for NFT projects.
The corporation has recently concluded that the future collection will not come with an increased utility. In addition to this, it will have absolutely no connections of any kind to its previously established Ethereum-based collections.
Greg Solano, the co-founder of Yuga Labs, is the one who admitted the deviance, and he seems to be implying that there is no joy to be had in doing what is anticipated. In a post he made on his site, he stated:
“None of these options are consistent with what one would anticipate from Yuga,” she said. But, as you are aware. To hell with conforming to norms and standards.
Another important aspect that differentiates the TwelveFold collection from Yuga’s other works is the magnitude of the entirety of the collection.
Typically, Yuga-owned collections include at least 10,000 NFTs in their entirety. Given that there are only 300 pieces in TwelveFold, the new methodology is more analogous to the method Larva Labs utilized for its Autoglyphs project. Only 512 NFTs are included in the Ethereum-based project.