Yuga Labs’ BTCNFT TwelveFold Auction Sets Records with Highest Bid of $159,600

By 0xGorki 03/7/23 12:50 AM

Yuga Labs, a blockchain-based platform, has announced the successful end of its highly anticipated BTCNFT TwelveFold auction. The auction featured 288 unique NFTs, each representing one of the 288 blocks that make up the first Bitcoin transaction.

The auction, which began on March 6, attracted a lot of attention from the crypto community, with many eager to get their hands on one of the limited edition NFTs. According to Yuga Labs, the top 288 bidders will receive their inscriptions within a week of the auction’s end.

The TwelveFold auction has ended. Congratulations to the top 288 bidders – you will receive your inscription within one week. Valid bids that did not rank in the top 288 will have their bid amount returned to their receiving address within 24 hours.

— Yuga Labs (@yugalabs) March 6, 2023

The highest bid in the auction was 7.1159 BTC, which is equivalent to approximately $159,600 at the time of writing. On the other hand, the lowest bid was 2.2501 BTC, or approximately $50,400.

The success of the auction highlights the growing interest in NFTs and the potential for blockchain technology to revolutionize the art world. Each NFT in the TwelveFold collection is a unique digital representation of one of the blocks that make up the first Bitcoin transaction, making them highly sought-after by collectors and enthusiasts alike.

Yuga Labs is one of the leading players in the NFT space, and the success of the TwelveFold auction further cements its position in the market. The company has previously collaborated with high-profile artists and musicians to create unique NFT collections, and it is likely that we will see more innovative projects from Yuga Labs in the future.

The end of the TwelveFold auction marks another milestone in the development of NFTs and their potential to disrupt traditional art markets. As the popularity of NFTs continues to grow, we can expect to see more artists and creators embrace the technology, further blurring the lines between traditional art and digital art.

In conclusion, the success of the TwelveFold auction is a testament to the growing popularity of NFTs and their potential to revolutionize the art world. Yuga Labs’ innovative approach to NFT creation and curation has established it as a leader in the space, and we can expect to see more groundbreaking projects from the company in the future.