TwelveFold is a unique NFT collection consisting of 300 artworks developed by Yuga Labs on the Bitcoin platform, marking a new turning point for NFTs in the Bitcoin ecosystem.
Using Ordinals technology, TwelveFold marks each satoshi, combining handcrafted and digital art, creating timeless collectible value and expressing the bond between humans and technology.
MAIN CONTENT
TwelveFold is Yuga Labs' groundbreaking first NFT on Bitcoin through Ordinals technology.
All 300 NFTs carry symbolic meanings of time, memory, and eternal art.
The collection has made a splash with revenue exceeding 16 million USD through the 24-hour auction.
What is TwelveFold?
TwelveFold is a special NFT collection released by Yuga Labs based on the Bitcoin platform through the Ordinals protocol, something never done before in the cryptocurrency ecosystem.
This marks the first time Yuga Labs harnesses the enduring power of Bitcoin for digital art, completely different from previous projects on Ethereum.
By 'engraving' directly onto each satoshi, 300 unique artworks from TwelveFold have been permanently preserved on the Bitcoin blockchain, combining hand-drawn techniques with 3D graphics, creating profound American aesthetic value that cannot be replicated.
What is the profound meaning behind TwelveFold?
The collection is not merely art but also a metaphorical symbol for the cycle of time and the human-technology connection. Michael Figgie, Creative Director of Yuga Labs, asserts that TwelveFold symbolizes the unbroken, irreversible flow of time and the eternal memories recorded on the Bitcoin network.
TwelveFold represents the relentless iteration of time and the strong bond between art and modern technology.
Michael Figgie, Creative Director of Yuga Labs, 2023
Basic information about the TwelveFold collection?
TwelveFold is built on the Bitcoin platform using Ordinals technology that allows unique NFT data to be stored on each satoshi. The total supply is 300 NFTs, of which 288 NFTs were auctioned on March 5-6, 2023, while 12 were reserved for community, museum, and storage activities.
Issuing platform: Bitcoin
Core technology: Ordinals
Engraving images onto each satoshi
Total number of NFTs: 300
Allocation: 288 NFTs auctioned and 12 NFTs reserved
How was the auction and revenue of TwelveFold?
The 24-hour auction attracted 3,246 participating wallet addresses. The highest bid reached 7.1159 BTC (about 160,000 USD). The lowest winning price was 2.2501 BTC. The total revenue was 735.7 BTC (equivalent to 16.5 million USD), transferred to the common fund of the Yuga Labs ecosystem.
What are the benefits and utilities of TwelveFold?
Although it does not provide access or staking utilities like previous projects, TwelveFold still represents a premium collectible art piece, marking a technological advancement in NFTs on Bitcoin and reflecting the Web3 vision of its owners.
Art permanently stored on the Bitcoin blockchain
Pioneering NFT technology milestone on the Bitcoin platform
Status symbol for forward-thinking collectors
Does the TwelveFold storage wallet and trading platform support?
TwelveFold is primarily traded on the Magic Eden BTC Marketplace – the leading exchange supporting Ordinals. Compatible wallets include Hiro Wallet, Xverse, and Unisat – Bitcoin wallets that support NFTs with Ordinals data.
Who is behind the TwelveFold project?
The project is developed by two founders of Yuga Labs – Greg Solano and Wylie Aronow, along with creative artist Michael Figgie, who is responsible for the unique artistic concept for TwelveFold.
The project is positioned as a pioneering art and technology experiment on the Bitcoin network, separate from well-known products like BAYC or Otherside.
Who are the investors and partners of TwelveFold?
The TwelveFold auction attracted the participation of 3,246 investors within 24 hours, surpassing the revenue mark of 16 million USD. Yuga Labs is the organizing unit and receives backing from major funds such as a16z, Animoca Brands, Coinbase Ventures, Sound Ventures through other funding rounds.
Strategic partners include Magic Eden BTC Marketplace and the Ordinals Protocol community.
What are similar projects to TwelveFold?
Similar NFT collections in terms of concept and market position include Azuki, Bored Ape Yacht Club (BAYC), and Bitcoin Frags. These projects share a vision of building a community of high-end art and digital assets on leading blockchain platforms.
In-depth insights into TwelveFold?
TwelveFold is seen as Yuga Labs' artistic manifesto on Bitcoin, not aimed at short-term investment. The value lies in its rarity, outstanding artistic quality, and historical significance as Yuga Labs first enters the Bitcoin NFT ecosystem.
Yuga Labs' first footprint on Bitcoin with NFTs
Long-term collectible value, independent of roadmap or financial utility
Summary of TwelveFold
TwelveFold not only positions itself as an important milestone for Yuga Labs but also opens a new chapter for NFTs on the Bitcoin platform. With the combination of handcrafted art and Ordinals technology, the collection carries strong symbolic value for knowledgeable and experienced NFT collectors.
Note: The information in this article is for reference only and is not investment advice.
Frequently asked questions
On which platform is TwelveFold's NFT collection based?
TwelveFold is an NFT collection built on the Bitcoin platform, using the Ordinals protocol to record data on each satoshi.
What utilities does the TwelveFold collection have?
TwelveFold is primarily a permanent storage artwork and status symbol, lacking staking utility or special access.
How much revenue did the TwelveFold auction achieve?
The 24-hour auction generated revenue of 735.7 BTC, equivalent to about 16.5 million USD from 288 NFTs sold.
Who are the founders of TwelveFold?
The project is developed by Greg Solano and Wylie Aronow – the two founders of Yuga Labs – along with Michael Figgie, the Creative Director.
Which wallets support the storage of TwelveFold?
Compatible wallets include Hiro Wallet, Xverse, and Unisat, Bitcoin wallets that support NFTs according to the Ordinals protocol.
Source: https://tintucbitcoin.com/bo-suu-tap-nft-twelvefold-la-gi/
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