Bored Ape Yacht Club creators to launch NFT collection in the bitcoin network
Bored Ape Yacht Club tokens creator Yuga Labs will launch the TwelveFold NFT collection on the bitcoin network
Yuga Labs developers have announced the creation of a series of NFTs of 300 items called TwelveFold in the blockchain of the first cryptocurrency
Yuga Labs will launch an NFT collection on the bitcoin network. The creators of the top digital token series on the Ethereum blockchain, such as Bored Ape Yacht Club (BAYC) and Cryptopunks, have announced the upcoming release of a collection of 300 digital tokens called TwelveFold.
The collection will represent "a visual allegory for the data mapping of the Bitcoin network. It will include 3D elements and hand-drawn symbols.
The company stressed that the new project will be a "departure" from what the community expects to see. This is the first Yuga Labs developer project using the Ordinals protocol. Launched in late January, the protocol allowed NFT to be added to bitcoin transactions and effectively created a new market for non-interchangeable tokens in the blockchain of the leading cryptocurrency.
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The exact release date of NFT is not yet known. Yuga Labs promises to announce more details about the timing and mechanics of the auction within a week.
According to the analytics platform Dune, since the launch of Ordinals, users have already contributed more than 207,000 NFTs to the bitcoin network. Because of this, network activity on the bitcoin blockchain has reached its highest level since the spring 2021.
The first NFT collection uploaded to the bitcoin blockchain using the Ordinals protocol was Bitcoin Punks, the original Cryptopunks in the Ethereum blockchain from Yuga Labs. The maximum selling price of NFTs from this collection reached 9.5 BTC (about $222 thousand).