TwelveFold will consist of 300 generative art NFTs created by Yuga Labs and placed on a 12x12 grid, featuring 3D elements and hand-drawn features that symbolize the cartography of data on the Bitcoin blockchain.
Yuga Labs is one of the largest non-fungible token (NFT) companies, known for its flagship collection, Bored Ape Yacht Club (BAYC) on Ethereum.
Yuga Labs’ new collection does not have any association with its current Ethereum-based collections, nor does it come with any extended utility. The company has planned to open the auction for TwelveFold later this week, encouraging its Ethereum-savvy audience to open Bitcoin wallets ahead of the mint.
The release of TwelveFold on the Ordinals protocol comes as the platform's leading collection, Ordinal Punks, sold one of its tokens for 9.5 $BTC, approximately $214,000, utilizing artwork that closely resembles Yuga Labs' famous CryptoPunks.
Ordinals on Bitcoin is a new protocol that allows tracking and transferring individual satoshis on the Bitcoin network and using them to create an NFT (non-fungible token). An ordinal is essentially a unique identifier for a satoshi, which is the smallest unit of Bitcoin, representing one hundred millionth of a BTC.