• Yuga Labs has released a new Bitcoin Ordinals NFT collection, titled “TwelveFold”.
• The collection is composed of 300 randomly generated bubble-like creations that explore the relationship between time, mathematics and variability.
• The success of their flagship projects had placed the value of the company at $4 billion, making it one of the top NFT markets.
Introduction to TwelveFold Collection
Yuga Labs has introduced their first Bitcoin Ordinals Non-Fungible Token (NFT) collection, called “TwelveFold”. This experimental 300-piece generative art collection is inscribed onto satoshis that will live on the Bitcoin blockchain. Each piece appears to be randomly generated bubble-like creations that explore the relationship between time, mathematics and variability.
Success of Yuga Labs
Yuga Labs quickly gained traction in the NFT market due to their successful flagship projects. A March 2022 seed round valued them at $4 billion, solidifying its position as one of the top NFT markets in the industry. With this launch into Bitcoin marketplace, it could potentially indicate a new perception of Ordinals as a platform for creating high quality NFTs with Bitcoin attributes such as immutability and decentralization.
Inscriptions on Bitcoin Blockchain
Ordinals have allowed content such as images, videos and HTML to be included in a bitcoin transaction and assigned to an individual Satoshi coin. In just three weeks since its introduction more than 100 000 collectibles have been inscribed within the blockchain which now hosts over 200 000 inscriptions – proof of its popularity amongst collectors.
Conclusion
The Twelvefold collection by Yuga labs marks an innovative step forward for both Ordinal NFTs and cryptocurrencies alike by bringing together two distinct concepts from different industries into one powerful platform – allowing users create unique items while taking advantage of blockchain technology features such as security and immutability.
Takeaway
Yuga labs’ entry into cryptocurrency space signifies a potential shift in perception towards Ordinals being used for higher levels of NFT creation – proving once again that when technology meets creativity anything is possible!