Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) project developer, released a Non-Fungible Token (NFT) that runs based on the Bitcoin blockchain protocol.
The project called TwelveFold will later release 300 tokens. In a tweet on the Yuga Lab Twitter account, it was explained that the Bitcoin NFT collection was inspired by Satoshis, the smallest units of Bitcoin printed via the Ordinal Theory protocol.
This idea later prompted Yuga Labs to develop the same project, with the aim of exploring the relationship between timing, mathematics, and the variability of the Bitcoin blockchain, as quoted from Decrypt.
“TwelveFold is a 12-base art system localized around a 12×12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain,” said Yuga Labs on Tuesday (28/2/2023).
Unlike NFTs in general the TwelveFold project is based on a visual allegory for cartography of data on the Bitcoin blockchain with a tokenized 12×12 computer generated grid, which will incorporate 3D graphics and hand-drawn features by Yuga’s in-house art team.
The choice of the Bitcoin Ordinals blockchain is not without reason, Yuga assesses that the infrastructure and tools around inscriptions or NFTs on Bitcoin are progressing rapidly.
Although some crypto observers are against this Bitcoin NFT. But the project has caught the attention of the NFT world over the past month.
This is what prompted Yuga to take his fortune in the industry.
“Ordinals Discord feels like a glimpse into the Ethereum NFT ecosystem of the 2017 era. But it is the kind of energy and excitement that we love at Yuga,” said a Yuga Labs representative.
Because the number is limited and very exclusive, TwelveFold is planned to be sold through an auction system, using BTC as a means of payment. The release itself is scheduled to take place this week.