Bored Ape Yacht Club founder announces first Bitcoin NFT project

Bored Ape Yacht Club‘s $4 billion owner, Yuga Laboratories, is introducing TwelveFold, its first-ever Bitcoin-based NFT initiative, which consists of 300 limited-edition works of generative art that are recorded on the Bitcoin blockchain.

Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain.https://t.co/aFWEIhzqcI pic.twitter.com/PjWABKKBr4

— Yuga Labs (@yugalabs) February 27, 2023

 The pieces, which are all 12×12 grids, will incorporate both hand-drawn and 3D components. The project has nothing to do with Yuga’s Ethereum-based IP and was conceived and made by the company’s internal art team.

They kept the auction’s timing and date from Yuga Labs. Instead of the previous announcement, the auction will occur within 24 hours of the event.

The Bored Ape Yacht Club (BAYC) collection of non-fungible tokens (NFTs), created on Ethereum, is what Yuga Labs is most known for. “Departs from expectations” will not be used with other Yuga Labs initiatives to dissociate TwelveFold from BAYC.

Though the company surprised everyone when it announced ordinary inscriptions, they are still optimistic about the future of digital artifacts on Bitcoin.

Ordinals, which resemble NFTs but are stamped on the blockchain, are rapidly gaining popularity. Well-known initiatives such as DeGods and OnChain Monkey have produced over 200,000 tokens. Yuga’s entry into Bitcoin NFTs comes when the business’ most reliable source of income seems to be in danger.

The collection was among the first released when Casey Rodarmor introduced Bitcoin Ordinals on January 21. NFTs and ordinary transistors are similar in that both include media. Instead of Ethereum and its associated networks, Bitcoin is used to create Ordinals, and all data is stored on-chain rather than in a linked file.

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