Yuga Labs, the U.S.-based company behind Bored Ape Yacht Club (BAYC), announced on Tuesday that it plans to launch TwelveFold later this week, its first non-fungible token (NFT) collection on the Bitcoin network.
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Fast facts
- TwelveFold, a limited collection of 300 generative art pieces that explores the relationship between time, mathematics and variability, will be inscribed on satoshis, the smallest denomination of the Bitcoin cryptocurrency.
- Yuga Labs said that TwelveFold is an independent art collection unrelated to its other Ethereum-based projects.
- The news comes a week after the Bitcoin network surpassed 154,000 Ordinals inscriptions last Tuesday. Ordinals is a protocol that enables the permanent inscription of digital assets on satoshis, adding an NFT layer to the Bitcoin network.
- Yuga Labs is the creator of some of the most successful NFT collections in addition to BAYC, including the Mutant Ape Yacht Club and the Bored Ape Kennel Club. The company also acquired the rights to fan favorites CryptoPunks and Meebits last year.
- Yuga Labs’ said its latest upcoming collection, TwelveFold, will launch at an auction later this week. The auction details will be announced 24 hours prior.
See related article: New Bitcoin protocol may shake up the NFT market