Yuga Labs Set to Launch First Bitcoin NFT Collection TwelveFold on March 6

Yuga Labs, the company behind the popular NFT collection Bored Ape Yacht Club, is set to launch its latest collection, TwelveFold, on the Bitcoin network. The collection, which includes 300 NFTs, is scheduled for today at 3 PM PT and will continue for approximately 24 hours, concluding with the block immediately preceding 3 PM PT on Monday, March 6th.

The TwelveFold collection is unique in that it features designs created using 3D technology and other advanced techniques. Of the 300 NFTs, 12 will be reserved for contributors to the project and charitable activities, while the remaining 288 will be auctioned off to the public. Currently, there are 223 bidders participating in the auction, with the highest bid at 0.63 BTC, equivalent to $14,300 USD.

To participate in the auction, bidders must have two Bitcoin wallet addresses. One address is used to send the BTC that they want to bid, while the other “empty” address is used to receive the NFT after the auction ends. The 288 bidders with the highest bids will receive the NFTs.

The Ranking of the TwelveFold NFT Collection Auction.

Bitcoin NFTs have been a topic of controversy in the cryptocurrency community, with some questioning their value and utility. However, according to Galaxy Research, the market capitalization of Bitcoin NFTs is expected to reach $4.5 billion in the next two years, indicating significant growth potential.

It is important to note that the auction results will be based on the final Bitcoin block before 6:00 AM on March 7th. If the final block ends before 5:57 AM, any bids made after that time will be invalid, even if they were submitted before the deadline.

At present, there are no guidelines or starting bids for the auction. Nonetheless, the launch of TwelveFold is sure to draw interest from both NFT collectors and cryptocurrency enthusiasts alike.

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