Yuga Labs Announces First Bitcoin NFT Collection

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• Bored Ape creator Yuga Labs has joined the Bitcoin NFT bandwagon with a new collection
• Known as TwelveFold, it features 300 collectibles
• Yuga Labs is the first NFT giant to release a Bitcoin-specific NFT collection

Bored Ape creator Yuga Labs has joined the Bitcoin NFT bandwagon by announcing a Bitcoin-based NFT collection. Known as TwelveFold, the collection features 300 generative collectibles that visualize the “cartography of data on the Bitcoin blockchain.” Yuga Labs’ Bitcoin NFT project comes roughly two weeks after a Bored Ape collector moved his ape to the Bitcoin blockchain, something that Yuga considered an unlicensed reproduction of the Bored Ape.

No Link to Other Web 3.0 Projects

According to Yuga Labs, TwelveFold comprises 12×12 grids that showcase how the BTC-powered network stores data. The virtual artworks are a mix of three-dimensional and hand-drawn elements. 

Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain.https://t.co/aFWEIhzqcI pic.twitter.com/PjWABKKBr4

— Yuga Labs (@yugalabs) February 27, 2023

Yuga disclosed that the NFTs have no links with its other Web 3.0 projects on the Ethereum blockchain, adding that the collection was created by the company’s in-house team, which is a deviation front using freelance artists that have put the company in trouble in the past. 

Another deviation is that the collection has a total of 300 artworks which is unlike Yuga’s style of developing an NFT collection with less than 10,000 artworks. According to Yuga Labs co-founder Greg Solano, this is an intentional move to step out of “what’s expected.” 

Ethereum is Better

However, Solano noted that the Bitcoin NFT world is still in its early days and lacks the “tooling and structure” found on the Ethereum blockchain. The Yuga executive expressed optimism in Bitcoin Ordinals inscriptions and what the Bitcoin blockchain holds “for digital artifacts.” 

Despite more NFT projects eyeing the BTC-based NFT ecosystem, some in the Bitcoin community think that bringing NFTs on the blockchain goes against Satoshi Nakamoto’s will while others see it as a way to expand BTC’s utility. With Yuga Labs crossing over to Bitcoin, it’s yet to be seen whether NFT heavyweights like Dappar Labs will follow the cue.