Yuga Labs, an innovative technology company, has recently joined the Bitcoin Ordinals fever by introducing their new Non-Fungible Token (NFT) Collection ‘TwelveFold’ collection of 300 generativity unique Non-Fungible Tokens (NFTs) set to launch on the Bitcoin blockchain on February 28th.
The collection, which consists of “inscribed satoshis”, is sure to be a hit amongst crypto-art enthusiasts due to its unique method of combining traditional artistry with the latest in blockchain technology
Each NFT in this series is created using cutting-edge blockchain technology. Making it possible for buyers to securely own digital assets with complete ownership rights. By combining ancient symbolism with modern technology, Yuga Labs aims to bring about a new age in collecting digital art.
Is Bitcoin Ordinals’ popularity likely to continue?
The Bitcoin network has been abuzz recently with the introduction of Ordinals. A way to embed Non-Fungible Tokens (NFTs) into one Satoshi, the smallest unit of a Bitcoin. In addition, the influx of activity caused the mempool, taproot utilization. And inscription fee rates to skyrocket – although they have since dropped back down.
It remains to be seen whether this was just a temporary spike or if it marks the beginning of a longer trend in Bitcoin’s popularization. The upcoming launch of Yuga Labs’ TwelveFold NFT collection could signal wider acceptance of Ordinals. However, Glassnode does not appear to be worried about monetary transactions being crowded out by these NFTs. Ultimately, only time will tell if the popularity of Bitcoin Ordinals will continue or not.
