coindesk.com
One of the largest non-fungible token (NFT) companies is hopping on the Bitcoin NFT wave with the release of a new collection
Yuga Labs said Monday that it’s planning to release an NFT collection minted on the Bitcoin-based Ordinals protocol, which has steadily grown in popularity since its launch last month.
Read more: Bitcoin NFTs: What Are Ordinal NFTs and How Do You Mint One?
Called TwelveFold, the collection will feature 300 generative art NFTs created by Yuga Labs placed on a 12x12 grid, which serves as “a visual allegory for the cartography of data on the Bitcoin blockchain.” It will include 3D elements as well as hand-drawn features, Yuga Labs said.
While Yuga Labs’ empire is built upon the success of its blue-chip Bored Ape Yacht Club collection, which recently expanded its ecosystem through its skill-based mint Dookey Dash, the company specified that its new collection does not come with extended utility or has any affiliation to its current Ethereum-based collections.
“All of these choices are a departure from what’s expected from Yuga,” said Greg Solano, co-founder of Yuga Labs in a blog post. “But, you know. F**k doing expected things.”
Some experts say the tokens have contributed to the cryptocurrency’s recent pump. One of the leading collections on the Ordinals protocol, Ordinal Punks, saw one of its tokens sell for 9.5 BTC, about $214,000 – utilizing artwork that closely resembles Yuga Labs’ CryptoPunks.
Yuga Labs plans to open its auction for TwelveFold Later this week, encouraging its Ethereum-savvy audience to open Bitcoin wallets ahead of the mint.