Yuga Labs, a heavyweight in the NFT market, is all set to auction its latest Bitcoin NFT collection TwelveFold on Sunday. The auction is scheduled to start at 3 p.m. PT, and of the 300 NFTs on offer, 288 will be available for sale, while 12 will be held back for contributors, donations, and philanthropic efforts.
Yuga Labs has generated these unique NFTs using advanced 3D modeling technology and other techniques, making them highly coveted in the market. The auction will close about 24 hours after it starts, with the final results based on the last completed Bitcoin block before 3 p.m. PT on March 6.
It’s important to note that there is no fixed price or guideline for bids, giving interested buyers the freedom to make their best offers. This is Yuga Labs’ first foray into Bitcoin NFTs after dominating the Ethereum NFT market with blockbuster collections such as Bored Ape Yacht Club and CryptoPunks.
What sets Bitcoin NFTs apart is that they are inscribed onto satoshis on the Bitcoin blockchain using the Ordinal Theory protocol. These 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, which are the smallest individually identifiable units of Bitcoin.
As upgrades to the Bitcoin blockchain have made it cheaper to store data in single transactions, ordinals have gained immense popularity, making TwelveFold a must-have collection for NFT enthusiasts. Don’t miss out on this unique opportunity to own one of these exclusive NFTs.
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