• CryptoPunks and Bored Ape Yacht Club have recently released the Bitcoin Ordinals NFT collection, TwelveFold.
• The pieces are randomly generated bubble-like creations that explore the relationship between time, mathematics, and variability.
• Yuga Labs has become a top player in the NFT market due to their success and is currently valued at $4 billion.
The creators of CryptoPunks and Bored Ape Yacht Club have introduced their first Bitcoin Ordinals NFT collection titled “TwelveFold”. This 300-piece generative art collection inscribed onto satoshis 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. It includes highly rendered 3D elements as well as hand drawn features which serve as an homage to the ordinal inscriptions currently done by hand. This art system is localized around a 12×12 grid – a visual allegory for the cartography of data on the Bitcoin blockchain.
Popularity Of Ordinals
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 more than 200,000 inscriptions are hosted by Bitcoin full nodes – testifying its popularity amongst users who wish to add images to Bitcoin transactions.
Yuga Labs Success
Yuga Labs quickly ascended to the top of the NFT market due to their success with flagship projects; they are currently valued at $4 billion after their March 2022 seed round at the height of the NFT craze. They have been credited for departing from expectations with this project in particular – showing that they aren’t afraid of taking risks with innovation when it comes to creating new types of artwork using blockchain technology.
Yuga Labs’ entry into the Bitcoin marketplace could potentially indicate a new perception of Ordinals as a platform for high levels of Non Fungible Token (NFT) creation – allowing users to inherit attributes from Bitcoin via immutable yet decentralized transactions which can contain images or other media content for individual satoshis (smallest unit).