Oxalus Insights 60s Analytics

60s Analytics: Yuga Labs Is Going To Launch Next Collection On The Bitcoin Network. What’s Next?

60s Analytics Mar 1 2023

Yuga Labs, the creators of the Bored Ape Yacht Club, announced a new collection on the Bitcoin network called “TwelveFold” yesterday. The collection features a maximum of 300 pieces and was crafted in-house by Yuga Labs’ art team using 3D modeling, algorithmic construction, and high-end rendering tools. The use of Ordinals Inscriptions allowed Yuga to bypass storage and financial constraints.

So what made the giant with 3 blue chip NFT collections enter the Bitcoin Ordinals race? As the developer shared in a blog, the collection is inspired by the working principle of a satoshi, Bitcoin’s smallest individually identifiable unit. Besides, the recent rise of Ordinals collections is also the reason why Yuga Labs cannot ignore this potential market. In addition, recent consecutive factors have both directly and indirectly affected the profitability of Yuga Labs, such as Ethereum’s loss of breath for 2 consecutive months compared to Polygon, or OpenSea recently made royalty fees optional.

With the participation of Yuga Labs, it is likely that we will see more big companies landing on Bitcoin Ordinals, and this keyword could completely lead the Web3 space in the upcoming trend. Therefore, getting used to this new concept will help you be less surprised when Bitcoin Ordinals becomes really explosive. Although the way of minting and trading Ordinals is still quite complicated, of course, every step is always difficult at first. Currently the majority of Bitcoin Ordinals still have low prices, if you have ever missed the early blue chips like BAYC or Cryptopunk, then this is a pretty good opportunity to try.

Free Newsletter

Always stay up-to-date with the latest news

Maybe you like

My Cart (0)

Empty cart

Add items, and see how much

gas you can save

Connect Wallet