• Yuga Labs has introduced their new Bitcoin Ordinals NFT collection, TwelveFold.
• The collection is an original and experimental 300-piece generative art inscribed onto satoshis.
• Ordinals have enabled NFTs to inherit the attributes of Bitcoin, allowing content such as images, videos and HTML to be included in a transaction.
The Introduction of TwelveFold
Yuga Labs recently released their first Bitcoin Ordinals NFT collection titled „TwelveFold“. The pieces are randomly generated bubble-like creations that explore the relationship between time, mathematics, and variability within a 12×12 grid. Additionally, each piece 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‘ Popularity
Yuga Labs became quickly popular due to the success of their flagship projects. In March 2022, a seed round placed the value of the company at $4 billion. This demonstrated how far away from expected norms Yuga was willing to go for innovation.
Bitcoin Marketplace Entry
Yuga Labs entering into the Bitcoin marketplace could potentially indicate a new perception of Ordinals as a platform for high level NFT creation. With Ordinals and inscriptions, content such as images, videos and HTML can be included in a Bitcoin transaction and assigned to an individual satoshi. So far, more than 200,000 collectibles have been inscribed since its introduction three weeks prior.
Attributes Inherited with NFTs
NFTs can now inherit the attributes of Bitcoin due to Ordinals and inscriptions being added into transactions on it’s blockchain network. This has allowed them to move away from third parties and centralized databases while still being immutable and decentralized on the network.
Conclusion
Yuga’s entry into the bitcoin market with their TwelveFold collection demonstrates how far away from expected norms they are willing to go for innovation while exploring new ways of creating digital art via ordinal inscriptions on bitcoin transactions.. It also shows how important it is for developers like Yuga Labs themselves to recognize that NFTs can inherit attributes from Bitcoin in order for them be successful on this modernized network .