Yuga Labs’ latest Bitcoin-based NFT collection, TwelveFold, has generated over $16.5 million with the highest bid reaching almost $160,000. The generative art collection consists of 3D graphics and hand-drawn features designed by Yuga Lab’s art team.
Yuga Labs, the company behind the popular NFT project Bored Ape Yacht Club, has generated an impressive $16.5 million from its latest venture, the TwelveFold collection. This new collection is the company’s first foray into the world of Bitcoin-based NFTs, and it has proven to be a massive success.
The TwelveFold collection consists of 300 generative art pieces with each artwork comprising a combination of 3D graphics and hand-drawn features designed by Yuga Lab’s art team. They were generated using 3D modeling, algorithmic construction, and high-end rendering tools.
The collection is highly unique and sought after due to the level of detail and craftsmanship put into each piece. Furthermore, BAYC is an iconic project that’s known for other crypto-based projects such as Mutant ape and Dookey Dash. Its high-profile reputation attracted many investors hoping to win big at the auction.
The auction for the TwelveFold collection began on Sunday, and there was a total of 3,246 bidders. It is clear that it has attracted many to its unique bitcoin project.
The collection has generated 735.7 Bitcoin(BTC), roughly equivalent to $16.5 million. The top bid for one of the NFTs was an astounding $160,000, which is a testament to the hype and popularity of the project./
Yuga Labs has established itself as a major player in the world of NFTs, and the success of the TwelveFold collection further solidifies its position as a leader in the industry. Yuga Labs has specified that its collection will have no future utility with its other Ethereum-based projects.
Its previous projects offered exclusive benefits, such as its Bored Ape Yacht NFT collection signifying membership of all the benefits being included in the project.
The success of the TwelveFold collection is also a reflection of the growing interest in Bitcoin-based NFTs. As more and more people become interested in cryptocurrency and blockchain technology, the demand for NFTs is expected to continue to grow.
Yuga Labs’ foray into Bitcoin-based Ordinals Protocol is not only its first but it’s described to be unlike anything it has dived into in the past. This could prove that the BAYC name holds a certain prestige and that anything it decides to pursue is to meet with success due to its strong reputation in the crypto space.
With the success of the TwelveFold collection, the company is likely to continue to push the boundaries of what is possible with NFTs and blockchain technology. It will be exciting to see what they come up with next.
Edmond is a passionate writer for Video games, GameFi and Web3. He has worked for top GameFi companies and video game/crypto news websites.