Yuga Labs, the company behind Bored Ape Yacht Club (BAYC), has announced TwelveFold, the first Bitcoin NFT project. It is a collection of 300 Non-Fungible Ordinals generative art tokens that will be auctioned this week.
It is a collection of 300 pieces of generative art Ordinals NFT, the protocol that creates NFTs on Bitcoin. These pieces are 12×12 grids and combine 3D graphics and hand-drawn strokes.
TwelveFold is Yuga Labs’ first NFT project built on the Bitcoin Blockchain. In this regard, the co-founder of Yuga Labs, Greg Solano, said:
“All of these choices deviate from what we’ve come to expect from Yuga. But, you know. F*** the things that are expected. We are excited about Ordinals enrollments and what the future holds for digital artifacts on Bitcoin.”
The auction for TwelveFold will launch later this week. Yuga Labs said a 24-hour notice will be posted with the details of the auction and the exact time.
Bored Ape and the new TwelveFold NFT collection on Bitcoin
This announcement by Yuga Labs silences those rumors that recently suggested that BAYC’s famous NFT collection was the company’s first project on Bitcoin.
And indeed, given that CryptoPunks 10,000 NFTs were mined on Bitcoin, through Ordinals, without the project being official, the same was expected for BAYC.
This does not mean that Yuga Labs would have formalized this project and the collection, but simply the crypto community would have carried it out.
TwelveFold, on the other hand, is the official project of Yuga Labs developed through Ordinals that will allow artworks and media to be committed to Bitcoin by permanently linking each of them to a single Satoshi, or 1/100,000,000th of an entire Bitcoin (BTC ).
While there are already multiple blockchains hosting NFTs, Yuga Labs has always favored Ethereum to create all of its blockchains. Among the many are BAYC, Mutant Ape Yacht Club (MAYC), and the virtual terrains for the upcoming metaverse game Otherside.
Not only that, Yuga Labs also owns CryptoPunks and Meebits, two Ethereum NFT projects created by Larva Labs that Yuga bought the intellectual property rights last year.
Another peculiarity of TwelveFold is that in addition to being on Bitcoin, it is the first NFT collection to be of only 300 pieces, while the Yuga Labs collections are at least 10,000 NFTs.
Ordinals: a new way to do NFT
The Ordinals protocol was created by computer engineer Casey Rodarmor, who officially made it public starting last January 21st. Not only that, in the following week, the protocol launched NFTs on the Bitcoin mainnet.
This event in the history of NFTs and the Bitcoin blockchain has attracted a lot of attention, dividing the crypto community into pros and cons.
Ordinals allows for the Bitcoin version of NFTs described as digital artifacts, which can include JPEG, PDF, or video and audio formats.
In practice, according to Rodarmor, these digital artifacts become inscriptions and therefore real native Bitcoin NFTs. Inscriptions are made on the satoshis which are tracked and transferred using ordinal theory, which gives satoshis an individual identity and allows them to be tracked and transferred through transactions.
Since then, more than 200,000 unique Ordinals have been minted, including by major projects such as DeGods and OnChain Monkey. Yuga Labs’ TwelveFold is now added as well.