Yuga Labs will release a series of artistic cryptocollectibles on Bitcoin’s Ordinals protocol, according to an announcement from the company on Feb. 27.
The collection is titled TwelveFold and will feature 300 pieces of generative art — that is, images that have been created through the use of algorithms.
Each image in the TwelveFold collection is designed around a 12-by-12 grid in reference to the commonly used base-12 timekeeping system — and in reference to the fact that Bitcoin Ordinals are identified by the time that they are minted.
Yuga Labs did not announce a specific time or date for the auction. Instead, it said that it will announce the auction within 24 hours of the event.
Yuga Labs is best known for its Bored Ape Yacht Club (BAYC) collection of non-fungible tokens (NFTs), which are minted on Ethereum. The company distanced TwelveFold from BAYC by calling the new collection a “departure from what’s expected” and by stating that the items will not have any use with other Yuga Labs projects.
The collection is notable as one of the first Ordinals collections, arriving just weeks after Casey Rodarmor launched Bitcoin Ordinals on Jan. 21. Ordinals are similar to NFTs in that they contain media. However, Ordinals are minted on Bitcoin instead of Ethereum and related networks, and they store all data on-chain instead of in a linked file.
According to data from Dune Analytics, more than 202,800 Ordinals have been minted on the Bitcoin blockchain as of Feb. 27.
Source: https://cryptoslate.com/bored-ape-creators-unveil-bitcoin-ordinals-collection-twelvefold/