• Yuga Labs recently launched a new NFT collection called Twelvefold.
• The pieces in the collection are generative and inscribed on Satoshis on the Bitcoin blockchain.
• This is being done to capitalize on the Ordinal inscription craze.
Yuga Labs Launches Ordinal Inscription NFT Collection Twelvefold
Yuga Labs, the team behind the popular Bored Ape Yacht Club NFT collection, has announced their latest contribution to the world of nonfungible tokens – Twelvefold. This limited edition collection consists of 300 generative pieces inscribed on Satoshis on the Bitcoin blockchain. The nomenclature for this new collection is “TwelveFold,” which is based around a 12×12 grid, representing data mapping on the Bitcoin blockchain.
Ordinals are nonfungible tokens (NFTs) that can be inscribed into one Satoshi, which is the smallest denomination of a Bitcoin. These digital artifacts remain permanently on the blockchain due to an upgrade made in November 2021 called Taproot, which allows programmability and smart contracts capabilities to be added to a network. Since then, these types of assets have become increasingly popular in the crypto world.
TwelveFold Auction Launch Date
The official launch date for TwelveFold’s auction will begin later this week with a 24-hour notice period providing more exact timing information. Once it begins, people will have the chance to bid and purchase any piece they like from this unique collection before it’s gone forever!
Benefits Of Ordinals
One of the benefits associated with ordinals is that they are low cost and easy to store compared to other forms of art or cryptocurrency investments like Bitcoin or Ethereum tokens. Additionally, they provide an interesting way for people who may not be familiar with cryptoassets to get involved in collecting them since each asset can be purchased with just one satoshi!
The TwelveFold series by Yuga Labs marks another great contribution to what is becoming an ever-growing market for nonfungible tokens (NFTs). The launch date for its auction will soon be released so anyone interested should keep their eyes peeled! With ordinals being such an affordable way for people to get involved with cryptoassets and collect art at same time, it’ll be fascinating see how much interest this particular series receives when it goes live later this week!