The largest NFT creation company will host the first Bitcoin Ordinals project, just as the network passes 200,000 inscriptions.
Creators of CryptoPunks and Bored Ape Yacht Club have introduced the first collection of Bitcoin Ordinals NFT.
According to a blog post by Yuga Labs, the collection, titled “TwelveFold,” is “a collection of 300 original and experimental generative art written in satoshi that will live on the Bitcoin blockchain.”
The pieces appear to be randomly generated bubble-like creations that “explore the relationship between time, mathematics, and variability.”
“TwelveFold is a 12-art system base localized around a 12×12 grid, a visual allegory for data cartography on the Bitcoin blockchain,” the blog post said. “The collection includes highly rendered 3D elements as well as hand-drawn features that pay homage to ordinal inscriptions that are now done by hand.”
Yuga Labs quickly rose to the top of the NFT market thanks to the huge success and popularity of its flagship project. The March 2022 seed round at the height of the NFT craze valued the company at $4 billion.
“All of these choices are deviations from what is expected from the Yuga,” the blog posted. “But, you know. Fuck do what you want.”
Yuga Labs’ entry into the Bitcoin market potentially represents a new perception of Ordinals as a platform for creating top-tier NFTs. The ability for NFTs to inherit the attributes of Bitcoin has brought them from the realm of third parties and centralized databases to the immutable, decentralized realm of Bitcoin.
Ordinals and inscriptions bring NFT to Bitcoin, allowing content, such as images, videos and HTML to be included in Bitcoin transactions and assigned to individual satoshis. More than 100,000 collections were written in the first three weeks that Ordinal was introduced. Currently, Bitcoin’s full node hosts more than 200,000 inscriptions, a testament to the popularity of adding images to Bitcoin.