Subscribe to our newsletter!
- The new NFT collection – TwelveFold -will feature 300 generative art NFTs on a 12×12 grid and will serve as an allegory for the cartography of data on the Bitcoin blockchain.
- Unlike previous Yuga Labs collections, which were Ethereum-based, TwelveFold is minted on the Bitcoin-based Ordinals protocol and includes 3D elements and hand-drawn features.
Yuga Labs, which is behind the top NFT collections like Bored Ape Yacht Club, is set to release another NFT collection, but this time, not on the Ethereum blockchain but on the Bitcoin blockchain.
The new NFT collection is called “TwelveFold,” which will feature 300 generative art NFTs placed on a 12×12 grid and is minted on the Bitcoin-based Ordinals protocol. As per Yuga Labs, TwelveFolds will serve as “a visual allegory for the cartography of data on the Bitcoin blockchain.”
However, the firm clarified that its new collection is not connected to any utility affiliated with the Ethereum-based collections of Yuga Labs. So to compensate, TwelveFolds will include 3D elements as well as hand-drawn features.
“All of these choices are a departure from what’s expected from Yuga. But, you know. F**k doing expected things,” Yuga Labs co-founder Greg Solano, said in a blog post.
NFTs on the Bitcoin blockchain are commonly known as Ordinal NFTs or Bitcoin Ordinals. Developed by software engineer Casey Rodarmor, it was launched on the Bitcoin mainnet in January 2023.
Basically, the Ordinal Protocol assigns each satoshi a sequential number. Each satoshi with an assigned sequential number can then be inscribed with data such as pictures, text, or videos through a Bitcoin transaction. And once the data has been inscribed, it will be permanently part of the Bitcoin blockchain and can only be viewed through Ordinal-enabled Bitcoin wallets and online Ordinal viewers. This is the reason why Bitcoin Ordinals are dubbed “digital artifacts.”
The explanation above is the reason why Bitcoin Ordinals are different from ordinary NFTs, which are commonly minted on the Ethereum Blockchain, because the data file of Bitcoin Ordinals resides in the witness signature field of Bitcoin transactions.
Last month, BitPinas showed the arguments of those who are against and for the idea of Bitcoin Ordinals. Check out the two sides of the story here:
This article is published on BitPinas: Bored Ape Studio Yuga Labs launches New NFT collection – “TwelveFold” – on the Bitcoin Blockchain
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.