Key Takeaways
* TwelveFold is a 300-piece generative artwork assortment inscribed on satoshis.
* The venture makes use of Ordinal Idea protocol to find an inscribed satoshi.
* Contributors can submit puzzle solutions by means of numerous Bitcoin wallets, together with Leather-based, Unisat, and Xverse.
* The primary right reply inscribed on a satoshi is said the winner.
* Winners should fill out tax kinds to say prizes.
Yuga Labs, the web3 firm with a robust observe document within the NFT area, has expanded its portfolio with the launch of TwelveFold, a 300-piece generative artwork assortment on the Bitcoin blockchain.
Recognized for its possession of Bored Ape Yacht Membership (BAYC) and its 2022 acquisition of CryptoPunks and Meebits from Larva Labs, Yuga Labs has additionally garnered consideration for its monetary success. As reported by Blockchain.Information in March, the corporate earned tens of millions from its NFT assortment ‘Dookey Sprint.’ The brand new TwelveFold venture goals to discover the connection between time, arithmetic, and variability by means of a base 12 artwork system
What’s TwelveFold?
Introduced on September 5, 2023, TwelveFold is a 300-piece generative artwork assortment that lives on the Bitcoin blockchain. The venture is localized round a 12×12 grid and contains highly-rendered 3D components in addition to hand-drawn options. In line with Yuga Labs, the gathering “explores the connection between time, arithmetic, and variability.”
How Does It Work?
The artwork items are inscribed onto satoshis, the smallest individually identifiable models of a Bitcoin, utilizing the Ordinal Idea protocol. This permits for the monitoring of when that exact satoshi was minted. Contributors can submit their puzzle solutions by means of numerous Bitcoin wallets, together with Leather-based (previously referred to as Hiro), Unisat, and Xverse. A Bitcoin payment of roughly $4-$8 is required to inscribe the reply onto a satoshi.
The Guidelines
The primary right reply that will get inscribed is said the winner of the puzzle. In case two folks submit the proper reply in the identical Bitcoin block, the reply with the decrease inscription quantity is accepted. Winners are notified by way of e mail and should fill out tax kinds to say their prizes.
The Know-how Behind It
The TwelveFold venture leverages a way referred to as “inscribing,” which permits creators to attach information to a person satoshi and host metadata on-chain. This basically allows the idea of NFTs on the Bitcoin blockchain. Yuga Labs expects the expertise and ecosystem round Bitcoin-based NFTs to evolve in another way than different blockchain NFT ecosystems.
Conclusion
TwelveFold is a novel method to generative artwork, leveraging the Bitcoin blockchain to create a novel artwork assortment. Whereas the expertise remains to be nascent, it represents a major step within the evolution of NFTs on the Bitcoin blockchain.
Picture supply: Shutterstock
