• Yuga Labs has released their first Bitcoin Ordinals NFT collection, TwelveFold.
• The pieces are randomly generated bubble-like creations that explore the relationship between time, mathematics, and variability.
• The popularity of Ordinals have allowed content such as images, videos and HTML to be included in a Bitcoin transaction and assigned to an individual satoshi.
Yuga Labs Introduces New Bitcoin Ordinals Collection
Yuga Labs has introduced their first Bitcoin Ordinals NFT collection titled “TwelveFold.” This 300-piece generative art collection is inscribed onto satoshis that will live on the Bitcoin blockchain. These pieces appear to be randomly generated bubble-like creations that explore the relationship between time, mathematics, and variability. With its seed round placing the company at $4 billion in March 2022, Yuga Labs’ entry into the Bitcoin marketplace could potentially indicate a new perception of Ordinals as a platform for the highest levels of NFT creation.
What Are CryptoPunks & Bored Ape Yacht Club?
CryptoPunks and Bored Ape Yacht Club are two flagship projects by Yuga Labs who quickly ascended to the top of the NFT market due to their success and massive popularity. Their entry into bitcoin marketplace with TwelveFold signals a departure from what’s expected from them as they explore uncharted territory within the field of digital artwork.
What Are Bitcoin Ordinals?
Ordinals allow content such as images, videos and HTML to be included in a Bitcoin transaction and assigned to an individual satoshi. In just three weeks since their introduction more than 100,000 collectibles were inscribed within these ordinal inscriptions which are currently done by hand. Now there are more than 200,000 inscriptions hosted by bitcoin full nodes hinting at how popular adding images to bitcoin has become due to ordinals.
The Benefits Of Adding Images To Bitcoin
Adding images to bitcoin brings it from the realm of third parties and centralized databases into an immutable decentralized realm which has numerous benefits including increased security and privacy along with improved liquidity which can help reduce costs associated with transactions or trading fees.
Conclusion
Yuga Lab’s TwelveFold collection could signal a new level of creativity within digital artwork using ordinal inscriptions on bitcoin blockchain while allowing users to benefit from its many advantages such as enhanced security, privacy and improved liquidity over traditional methods like third party services or centralized databases.