The largest NFT creation firm will host their first Bitcoin Ordinals project, just as the network passes 200,000 inscriptions.
The creators of CryptoPunks and Bored Ape Yacht Club have introduced their first Bitcoin Ordinals NFT collection.
According to a blog post by Yuga Labs, the collection, titled “TwelveFold,” is an “Original and experimental 300-piece generative art collection inscribed onto satoshis that will live on the Bitcoin blockchain.”
The pieces appear to be randomly generated bubble-like creations that “explore the relationship between time, mathematics, and variability.”
“TwelveFold is a base 12 art system localized around a 12x12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain,” the blog post reads. “The collection includes highly-rendered 3D elements as well as hand-drawn features which serve as an homage to the ordinal inscriptions currently done by hand.”
Yuga Labs quickly ascended to the top of the NFT market due to the success and massive popularity of their flagship projects. A March 2022 seed round at the height of the NFT craze placed the value of the company at $4 billion.
“All of these choices are a departure from what’s expected from Yuga,” the blog post reads. “But, you know. Fuck doing expected things.”
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. The ability for NFTs to inherit the attributes of Bitcoin have brought them from the realm of third parties and centralized databases to the immutable, decentralized realm of Bitcoin.
Ordinals and inscriptions brought NFTs to Bitcoin, allowing content, such as images, videos and HTML to be included in a Bitcoin transaction and assigned to an individual satoshi. More than 100,000 collectibles were inscribed within the first three weeks of Ordinals being introduced. Now, Bitcoin full nodes host more than 200,000 inscriptions, a testament to the popularity of adding images to Bitcoin.
Source: Bitcoin Magazine - Bitcoin News, Articles and Expert Insights