TwelveFold is a collection of 300 artworks that will be inscribed on to satoshis, the term that's used to describe the smallest denomination of BTC.
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One of the world's largest NFT brands has announced that it's launching a new collection on the Bitcoin blockchain.
Yuga Labs is best known for creating Bored Ape Yacht Club — but until now, all of its collections have been based on the Ethereum network.
TwelveFold is a collection of 300 artworks that will be inscribed on to satoshis, the term that's used to describe the smallest denomination of BTC.
"Highly rendered 3D elements as well as hand-drawn features" will appear in each piece. In a blog post, the brand said:
"All of these choices are a departure from what’s expected from Yuga. But, you know. F*** doing expected things."
All of this comes as Ordinals become a bigger part of Bitcoin — with a new method allowing data to be connected to single satoshis, the equivalent to one hundred-millionth of a Bitcoin. Crucially, metadata can also be stored on the blockchain. Describing what the discovery of this technology has been like, Yuga co-founder Greg Solano said:
"Stepping into the Ordinals Discord a month ago felt like getting a glimpse of the 2017-era Ethereum NFT ecosystem. It's the type of energy and excitement we love at Yuga."
He went on to admit that there is work to be done — and while key values of provenance, self-custody and ownership are present, "the tooling and structure we've become accustomed to with Ethereum NFTs isn't."
Further details about when TwelveFold NFTs will be sold, and how, are set to emerge in the coming days.
The arrival of Bitcoin NFTs could pose something of a threat to Ethereum's market share, not least because this blockchain's ability to create non-fungible tokens played a key role in cementing its position as the second-biggest network in terms of market cap.
