Bored Ape Yacht Club Creator Yuga Labs Reveals First Bitcoin NFT Project
Yuga Labs, the creator of the Bored Ape Yacht Club, announced the release of a new bitcoin-based NFT collection called TwelveFold. The collection will consist of 300 generative art pieces inscribed onto satoshis on the Bitcoin blockchain. building on the recent uptick in ordinal NFTs.
Inscriptions, also known as digital artifacts, are created when a file, such as an art image like those created for TwelveFold, is written (or inscribed into) units of Bitcoin called satoshis, the smallest individually identifiable units of Bitcoin. The process is made possible through the Ordinal Theory protocol, with such NFTs simply donning the name "ordinals.". Ordinals have gained popularity as upgrades to the Bitcoin blockchain made it cheaper to store data in single transactions. In January, for example, someone minted a copy of the 100 Ether Rocks — one of the oldest Ethereum NFT projects.
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