Key Takeaways
* TwelveFold is a 300-piece generative artwork assortment inscribed on satoshis.
* The undertaking makes use of Ordinal Principle protocol to find an inscribed satoshi.
* Individuals can submit puzzle solutions by means of numerous Bitcoin wallets, together with Leather-based, Unisat, and Xverse.
* The primary appropriate reply inscribed on a satoshi is asserted the winner.
* Winners should fill out tax varieties to assert prizes.
Yuga Labs, the web3 firm with a powerful observe report within the NFT area, has expanded its portfolio with the launch of TwelveFold, a 300-piece generative artwork assortment on the Bitcoin blockchain.
Identified 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 hundreds of thousands from its NFT assortment ‘Dookey Sprint.’ The brand new TwelveFold undertaking 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 undertaking is localized round a 12×12 grid and contains highly-rendered 3D components in addition to hand-drawn options. Based on 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 items of a Bitcoin, utilizing the Ordinal Principle protocol. This permits for the monitoring of when that individual satoshi was minted. Individuals can submit their puzzle solutions by means of numerous Bitcoin wallets, together with Leather-based (previously generally known as Hiro), Unisat, and Xverse. A Bitcoin price of roughly $4-$8 is required to inscribe the reply onto a satoshi.
The Guidelines
The primary appropriate reply that will get inscribed is asserted the winner of the puzzle. In case two individuals submit the right 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 varieties to assert their prizes.
The Expertise Behind It
The TwelveFold undertaking leverages a way referred to as “inscribing,” which permits creators to attach knowledge to a person satoshi and host metadata on-chain. This primarily allows the idea of NFTs on the Bitcoin blockchain. Yuga Labs expects the expertise and ecosystem round Bitcoin-based NFTs to evolve otherwise than different blockchain NFT ecosystems.
Conclusion
TwelveFold is a novel method to generative artwork, leveraging the Bitcoin blockchain to create a singular artwork assortment. Whereas the expertise continues to be nascent, it represents a big step within the evolution of NFTs on the Bitcoin blockchain.
Picture supply: Shutterstock
