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OKB OKB (OKB) $48.55 ↑ 0.65%
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Mantle Mantle (MNT) $0.83 ↑ 3.67%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↑ 4.46%
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Pump.fun Pump.fun (PUMP) $0.00 ↓ -5.86%
PAX Gold PAX Gold (PAXG) $3,350.93 ↓ -0.20%
Tezos Tezos (XTZ) $0.90 ↓ -0.56%
Vaulta Vaulta (A) $0.58 ↑ 1.38%
Theta Network Theta Network (THETA) $0.91 ↑ 1.78%
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IOTA IOTA (IOTA) $0.22 ↑ 3.85%
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Raydium Raydium (RAY) $3.13 ↑ 2.73%
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Gala Gala (GALA) $0.02 ↑ 1.04%
The Sandbox The Sandbox (SAND) $0.32 ↑ 1.68%
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Aerodrome Finance Aerodrome Finance (AERO) $0.90 ↑ 0.19%
Pendle Pendle (PENDLE) $4.40 ↓ -1.15%
Jito Jito (JTO) $2.03 ↑ 1.23%
Bitcoin Bitcoin (BTC) $119,002.68 ↑ 0.87%
Ethereum Ethereum (ETH) $3,833.18 ↑ 2.52%
XRP XRP (XRP) $3.23 ↑ 1.61%
Tether USDt Tether USDt (USDT) $1.00 ↓ -0.02%
BNB BNB (BNB) $829.59 ↑ 5.76%
Solana Solana (SOL) $187.85 ↑ 1.14%
USDC USDC (USDC) $1.00 ↓ -0.02%
Dogecoin Dogecoin (DOGE) $0.24 ↑ 1.32%
TRON TRON (TRX) $0.32 ↑ 0.04%
Cardano Cardano (ADA) $0.83 ↑ 0.58%
Sui Sui (SUI) $4.34 ↑ 3.67%
Hyperliquid Hyperliquid (HYPE) $43.90 ↑ 0.31%
Stellar Stellar (XLM) $0.44 ↑ 1.12%
Chainlink Chainlink (LINK) $19.03 ↑ 2.96%
Hedera Hedera (HBAR) $0.29 ↑ 2.86%
Bitcoin Cash Bitcoin Cash (BCH) $600.09 ↑ 7.26%
Avalanche Avalanche (AVAX) $25.45 ↑ 1.08%
Litecoin Litecoin (LTC) $114.02 ↓ -0.39%
Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 0.21%
Toncoin Toncoin (TON) $3.36 ↑ 1.14%
UNUS SED LEO UNUS SED LEO (LEO) $8.97 ↓ -0.20%
Ethena USDe Ethena USDe (USDe) $1.00 ↓ -0.01%
Uniswap Uniswap (UNI) $10.78 ↑ 2.43%
Polkadot Polkadot (DOT) $4.19 ↑ 0.07%
Monero Monero (XMR) $322.84 ↑ 0.48%
Bitget Token Bitget Token (BGB) $4.63 ↑ 1.95%
Dai Dai (DAI) $1.00 ↓ -0.02%
Pepe Pepe (PEPE) $0.00 ↑ 0.56%
Aave Aave (AAVE) $299.11 ↑ 0.90%
Cronos Cronos (CRO) $0.14 ↑ 1.61%
Ethena Ethena (ENA) $0.67 ↑ 12.07%
Bittensor Bittensor (TAO) $431.11 ↑ 0.35%
NEAR Protocol NEAR Protocol (NEAR) $2.92 ↑ 0.24%
Ethereum Classic Ethereum Classic (ETC) $23.05 ↑ 0.66%
Pi Pi (PI) $0.44 ↑ 0.22%
Ondo Ondo (ONDO) $1.05 ↑ 0.20%
Aptos Aptos (APT) $4.87 ↑ 0.88%
Internet Computer Internet Computer (ICP) $5.74 ↑ 0.70%
OKB OKB (OKB) $48.55 ↑ 0.65%
Kaspa Kaspa (KAS) $0.11 ↑ 5.73%
Mantle Mantle (MNT) $0.83 ↑ 3.67%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↑ 4.46%
Bonk Bonk (BONK) $0.00 ↓ -1.09%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↑ 0.60%
Algorand Algorand (ALGO) $0.28 ↑ 1.56%
Arbitrum Arbitrum (ARB) $0.45 ↑ 0.11%
VeChain VeChain (VET) $0.03 ↑ 0.33%
Render Render (RENDER) $4.31 ↑ 1.26%
GateToken GateToken (GT) $17.99 ↑ 1.52%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.01%
Worldcoin Worldcoin (WLD) $1.20 ↑ 2.49%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $10.29 ↑ 0.55%
Sky Sky (SKY) $0.10 ↑ 0.86%
Sei Sei (SEI) $0.34 ↓ -0.22%
SPX6900 SPX6900 (SPX) $2.14 ↑ 7.71%
Cosmos Cosmos (ATOM) $4.82 ↑ 0.50%
Filecoin Filecoin (FIL) $2.72 ↑ 1.25%
Jupiter Jupiter (JUP) $0.59 ↑ 5.94%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.74 ↑ 0.49%
Flare Flare (FLR) $0.03 ↑ 4.25%
Story Story (IP) $5.49 ↓ -0.17%
Quant Quant (QNT) $128.75 ↑ 4.80%
Injective Injective (INJ) $15.40 ↑ 2.75%
KuCoin Token KuCoin Token (KCS) $11.53 ↓ -0.88%
Celestia Celestia (TIA) $2.02 ↑ 3.53%
XDC Network XDC Network (XDC) $0.09 ↑ 0.35%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.01%
Curve DAO Token Curve DAO Token (CRV) $1.05 ↓ -3.15%
Stacks Stacks (STX) $0.85 ↑ 4.55%
Fartcoin Fartcoin (FARTCOIN) $1.34 ↓ -0.07%
Four Four (FORM) $3.48 ↑ 3.24%
Optimism Optimism (OP) $0.73 ↑ 0.28%
FLOKI FLOKI (FLOKI) $0.00 ↑ 1.22%
Ethereum Name Service Ethereum Name Service (ENS) $31.08 ↑ 2.77%
Immutable Immutable (IMX) $0.60 ↑ 3.93%
dogwifhat dogwifhat (WIF) $1.12 ↑ 3.60%
The Graph The Graph (GRT) $0.11 ↑ 2.98%
PancakeSwap PancakeSwap (CAKE) $3.01 ↑ 8.42%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.58 ↓ -0.16%
Kaia Kaia (KAIA) $0.17 ↑ 1.75%
Lido DAO Lido DAO (LDO) $1.13 ↑ 3.56%
Conflux Conflux (CFX) $0.19 ↑ 4.51%
Sonic Sonic (S) $0.34 ↓ -0.23%
Pump.fun Pump.fun (PUMP) $0.00 ↓ -5.86%
PAX Gold PAX Gold (PAXG) $3,350.93 ↓ -0.20%
Tezos Tezos (XTZ) $0.90 ↓ -0.56%
Vaulta Vaulta (A) $0.58 ↑ 1.38%
Theta Network Theta Network (THETA) $0.91 ↑ 1.78%
PayPal USD PayPal USD (PYUSD) $1.00 ↓ -0.06%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 0.42%
IOTA IOTA (IOTA) $0.22 ↑ 3.85%
Nexo Nexo (NEXO) $1.33 ↑ 1.12%
Raydium Raydium (RAY) $3.13 ↑ 2.73%
Tether Gold Tether Gold (XAUt) $3,341.53 ↓ -0.16%
Gala Gala (GALA) $0.02 ↑ 1.04%
The Sandbox The Sandbox (SAND) $0.32 ↑ 1.68%
Pyth Network Pyth Network (PYTH) $0.14 ↑ 4.23%
Aerodrome Finance Aerodrome Finance (AERO) $0.90 ↑ 0.19%
Pendle Pendle (PENDLE) $4.40 ↓ -1.15%
Jito Jito (JTO) $2.03 ↑ 1.23%
Home Business

BAYC Creator Yuga Labs Introduces Their Bitcoin NFTs

Claire Tremblay by Claire Tremblay
2 March 2023
in Business
Reading Time: 3 mins read
0
BAYC Creator Yuga Labs Introduces Their Bitcoin NFTs

This Monday, Yuga Labs – the company behind Bored Ape Yacht Club, which has a net worth of $4 billion – announced their first Bitcoin-based NFT project launch, which is set to take place later this week. Dubbed TwelveFold, it will contain 300 limited-edition generative art pieces inscribed on the Bitcoin blockchain. This eagerly awaited release makes use of Ordinals, an up-and-coming method for permanently attaching artwork or media onto Bitcoin by allocating each piece with a single Satoshi.

Table of Contents

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  • New Project TwelveFold Could Be a Milestone for Yuga Labs
    • YOU MAY BE INTERESTED
    • Near Protocol Price Prediction 2025 and 2026: Can NEAR Deliver Strong Returns?
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  • This New Project Will Also Provide YugaLabs with A Financial Advantage

New Project TwelveFold Could Be a Milestone for Yuga Labs

A tribute to the way data is stored on Bitcoin’s blockchain, Yuga’s TwelveFold project consists of 12×12 grids and blends 3D graphics with hand-drawn elements. Crafted by our internal art team, this endeavor has no link to Ethereum-based Intellectual Property and will have zero future exchanges or utility associated with it. Not only does Yuga Labs‘ latest enterprise veer away from previous offerings, but it also stands out in that all its projects rest upon the prominent NFT network – Ethereum Blockchain.

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Yuga Labs holds a variety of digital assets, such as the Bored Ape Yacht Club (BAYC), its spinoff Mutant Ape Yacht Club (MAYC), and virtual land plots for the upcoming Otherside metaverse game. Additionally, Yuga owns CryptoPunks and Meebits – two highly sought-after Ethereum NFT projects created by Larva Labs, which it bought the IP rights to last year.

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BAYC Creator Yuga Labs Introduces Their Bitcoin NFT

TwelveFold stands out from the other projects by Yuga Labs in terms of size. All their collections contain 10,000 or more NFTs, while TwelveFold will only have 300 pieces- much closer to Autoglyphs, a powerful Larva Labs generative art project on Ethereum that is composed of 512 NFTs.

“Our current choices are a stark contrast from our usual operations at Yuga Labs,” Greg Solano composed in an accompanying blog post on Monday’s announcement. “But hey, let’s be different and try something new!” 

He continued: “We can’t contain the enthusiasm we have for Ordinal inscriptions and everything that Bitcoin will unlock with digital artifacts. The details on upcoming auctions will be revealed around this week – 24 hours prior to the sale itself.”

This New Project Will Also Provide YugaLabs with A Financial Advantage

Over the past few weeks, Ordinals have captivated the NFT industry. Even though some Bitcoin supporters may disagree with blockchain-enabled tokens like this, they are becoming increasingly popular. In fact, more than 200,000 distinct Ordinals have been issued already – including from influential projects such as DeGods and OnChain Monkey – and now there are even CryptoPunks replicas on Bitcoin!

Yuga Labs’s excursion into Bitcoin NFTs has become more crucial than ever, given that their stable source of income is in danger. Generally speaking, creators of NFTs like Yuga impose a 5-10% royalty on any secondary sales transacted through Ethereum marketplaces such as OpenSea. Unfortunately for them, OpenSea recently decided to do away with some royalties in order to compete against the emerging Blur – an online NFT trading platform. Not surprisingly, Yuga had previously expressed dissatisfaction over this decision by OpenSea.

You may be interested in: What Does Artificial Intelligence Think About Bitcoin? Will It Rise?

Tags: baycbitcoinNFTYuga Labs
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Claire Tremblay

Claire Tremblay

Hello! I'm Claire, an associate news editor covering breaking news and writing articles about technology for different digital news channels. Currently, I live in Montpellier, France. I love teams. I love leading teams. I love motivating teams. Journalism, at its best, is a team pursuit. Over the years, I have had the privilege to be a key part of teams that have won Pulitzer Prizes, Peabody Awards and Emmy Awards. "Individually, we are one drop. Together, we are an ocean." – Ryunosuke Satoro Areas of journalism experience: News, Business, Blockchain, technology, Artificial intelligence (AI), Internet of things (IoT), Sports, Travel, Food & Wine, Outdoors.

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