Yuga Labs Announces New NFT Collection; To Go Live On the Bitcoin Blockchain Greg Solana, co-founder, Yuga Labs, shared the news through an official blog posting titled "Introducing Twelvefold."
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
On Tuesday, Yuga Labs, one of the largest non-fungible token players and the brand behind Bored Ape Yacht Club, announced that it was launching an original and experimental NFT collection comprising of 300 generative art pieces on the Bitcoin Blockchain.
Read more about the inspiration behind TwelveFold and some background on ordinal inscriptions on our blog: https://t.co/kom7cvXthT">https://t.co/kom7cvXthT.
— Yuga Labs (@yugalabs) https://twitter.com/yugalabs/status/1630342396629139456?ref_src=twsrc%5Etfw">February 27, 2023
Greg Solana, co-founder, Yuga Labs, shared the news through an official blog posting titled "Introducing Twelvefold." The collection pieces will be inscribed onto satoshis, the smallest identifiable Bitcoin units and will be minted using the Ordinal Theory protocol. The ordinal NFT collection is said to be inspired by the relationship between time, mathematics and variability.
Twelvefold is a base 12 system which will be hosted on a 12x12 grid, making it "a visual allegory for the cartography of data on the Bitcoin blockchain.
Developed by Casey Rodarmor, Ordinal protocol powers inscriptions and gives individual satoshis an identity to help them be tracked and transferred. Each satoshi is assigned a sequential number and later inscribed with data in the form of pictures, texts or videos and hosts one's artwork on a chain.
"In effect, this enables satoshis to operate as if they are non-fungible, essentially enabling the concept of NFTs on the Bitcoin blockchain," the blog also read.
Yuga Labs will be announcing the timing and auction details for the collection in the coming week.
