Key Takeaways
* TwelveFold is a collection of 300 generative art pieces inscribed on satoshis.
* The project utilizes the Ordinal Theory protocol to locate an inscribed satoshi.
* You can submit puzzle answers through various Bitcoin wallets, such as Leather, Unisat, and Xverse.
* The first correct answer that gets inscribed on a satoshi is declared the winner.
* To claim prizes, winners must complete tax forms.
Yuga Labs Expands Portfolio with TwelveFold
Yuga Labs, a web3 company known for its success in the NFT space, has launched TwelveFold, a collection of 300 generative art pieces on the Bitcoin blockchain. The company is recognized for owning Bored Ape Yacht Club (BAYC) and acquiring CryptoPunks and Meebits from Larva Labs. Additionally, Yuga Labs gained financial success through its NFT collection ‘Dookey Dash.’ The TwelveFold project aims to explore the relationship between time, mathematics, and variability through a base 12 art system.
What is TwelveFold?
TwelveFold is a collection of 300 generative art pieces residing on the Bitcoin blockchain. It was announced on September 5, 2023. The art pieces are located on a 12×12 grid and feature highly-rendered 3D elements and hand-drawn aspects. According to Yuga Labs, the collection delves into the connection between time, mathematics, and variability.
How Does It Work?
The art pieces are inscribed on satoshis, which are the smallest identifiable units of Bitcoin, using the Ordinal Theory protocol. This protocol enables the tracking of when a specific satoshi was minted. You can submit your puzzle answers through various Bitcoin wallets like Leather, Unisat, and Xverse. Inscribing the answer onto a satoshi requires a Bitcoin fee of around $4-$8.
The Rules
The winner of the puzzle is determined by the first correct answer that gets inscribed. If two people submit correct answers in the same Bitcoin block, the answer with the lower inscription number is accepted. Winners are notified via email and must complete tax forms to receive their prizes.
The Technology Behind It
TwelveFold utilizes a method called “inscribing” to connect data to an individual satoshi and store metadata on the blockchain. This enables the concept of NFTs on the Bitcoin blockchain. Yuga Labs expects the technology and ecosystem surrounding Bitcoin-based NFTs to evolve differently compared to other blockchain NFT ecosystems.
Hot Take
TwelveFold represents an innovative approach to generative art by leveraging the Bitcoin blockchain. Although the technology is still in its early stages, it marks a significant advancement in the development of NFTs on the Bitcoin blockchain.
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