Yuga Labs, the reputable NFT brand known for pioneering the Bored Ape Yacht Club (BAYC) ecosystem, has recently disclosed the exciting news of the release of its latest offering – the TwelveFold.
This innovative generative art collection comprises 300 unique pieces of digital art inscribed onto satoshis – the smallest and indivisible units of Bitcoin, thereby making it the first NFT collection of its kind to be enshrined on the Bitcoin blockchain. The inscription is made possible by the Ordinal protocol, which enables each piece in the collection to be connected to a unique and specific satoshi.
As a result, each artwork in the TwelveFold collection is not only a stunning work of art in its own right but also a significant and one-of-a-kind asset with a permanent and unalterable record on the Bitcoin blockchain.
Yuga Labs’ TwelveFold Collection
Yuga Labs CEO Greg Solano recently wrote in a blog post about the TwelveFold collection, an art system based on the number 12 and a 12 by 12 grid that represents data on the Bitcoin blockchain. The collection includes both 3D and hand-drawn elements, paying homage to traditional inscriptions.
According to Yuga Labs, the TwelveFold collection is an exploration of the relationship between time, mathematics, and variability. The use of a base-12 system in the art is a visual representation of the non-uniform calculation base used in measuring time, which can vary from base 60 to base 12.
While Yuga Labs has not provided much detail on the reasons behind the collection, some followers have expressed surprise at the launch. Solano himself acknowledged the unexpected nature of the project in the same blog post, saying that “all of these choices are a departure from what’s expected from Yuga. But, you know. Screw doing expected things.”
In a tweet, BORED expressed skepticism that a gaming company could successfully enter the fine art world, suggesting that the funds raised from the TwelveFold collection should be used to support artists in the OtherSide metaverse ecosystem.
Other commenters echoed this sentiment, but Yuga Labs clarified that the collection is intended purely for collectibility and experimentation, with no further utility planned. Despite this, some fans believe that the project could help Yuga gain a foothold in the emerging NFT market and attract new participants to their ecosystem.
In addition, Yuga Labs’ collection, bearing the signature of Satoshi, is taking advantage of the latest blockchain technology advancements. The protocol allows NFTs to be inscribed on the Bitcoin blockchain, thanks to the Taproot upgrade. These advancements have resulted in a surge in block height on the blockchain and sparked lively discussions about the suitability of Bitcoin for hosting NFTs.
The Launch of the Bitcoin network has created fresh possibilities for NFTs
The development of the Ordinals protocol has allowed for the creation of NFTs on the Bitcoin network, diverging from the typical association of NFTs with the Ethereum blockchain. This protocol has already generated more than 100,000 ordinals. However, the increase in NFT activity on the Bitcoin network has sparked concerns about potential congestion in financial transactions.
The popularity of the Ordinals has resulted in a surge in the average transaction size to 1,100 bytes, a 100% increase. Nonetheless, Glassnode is optimistic that this trend will not negatively impact financial transactions. Despite these concerns, there is still a high level of interest in NFTs, as demonstrated by the anticipated attention the unveiling of Yuga Lab’s TwelveFold NFT collection is expected to receive.
Final Thoughts
Yuga Labs has once again broken new ground in the NFT space by launching the TwelveFold collection, which uses the innovative Ordinal protocol to inscribe unique digital art pieces onto satoshis on the Bitcoin blockchain. This not only makes TwelveFold a visually stunning collection, but also an unprecedented and valuable asset with an immutable record on the blockchain.