{"id":521279,"date":"2023-02-28T10:08:40","date_gmt":"2023-02-28T10:08:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=521279"},"modified":"2023-02-28T10:22:21","modified_gmt":"2023-02-28T10:22:21","slug":"yuga-labs-to-mint-300-nfts-on-bitcoin-will-it-be-a-gamechanger","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/nft\/yuga-labs-to-mint-300-nfts-on-bitcoin-will-it-be-a-gamechanger\/","title":{"rendered":"Yuga Labs To Mint 300 NFTs On Bitcoin, Will It Be A Gamechanger?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) collection, will mint Ordinals inscriptions, similar to non-fungible tokens (NFTs), on the Bitcoin network.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Yuga Labs To Mint TwelveFold NFTs On Bitcoin<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">In an\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/yugalabs\/status\/95412232\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">announcement<\/span><\/a><span data-preserver-spaces=\"true\"> on February 27, Yuga Labs said they will mint 300 limited edition generative pieces and inscribe them on Bitcoin&#8217;s satoshis. The 300 NFTs from Yuga Labs will be under the TwelveFold collection and are set to be minted and auctioned later this week.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Satoshi is the smallest unit of BTC, and has, in recent days, become a choice storage space for creators looking to take advantage of the relatively cheap block space on Bitcoin. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/all\/ape-price-bears-spark-jitters\/\">APE Price: Bears Spark Jitters As Crypto Sell Pressure Mounts<\/a><\/div>\n<figure id=\"attachment_521280\" aria-describedby=\"caption-attachment-521280\" style=\"width: 754px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-521280\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-28.png?resize=754%2C518\" alt=\"Bitcoin Price On February 28\" width=\"754\" height=\"518\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-28.png?w=754 754w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-28.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-28.png?w=750 750w\" sizes=\"(max-width: 754px) 100vw, 754px\"><figcaption id=\"caption-attachment-521280\" class=\"wp-caption-text\">Bitcoin Price On February 28| Source: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Yuga Labs&#8217; TwelveFold collection will be deployed via Ordinals, a new portal that has been gaining popularity in recent days. Through Ordinals, users can mint NFTs on Bitcoin, which inherently lacks smart contracting capability. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With Ordinals, associated media, that is, images or video files is inscribed on Satoshi. This is now possible on Bitcoin, thanks to the recent Taproot upgrade, which was activated in Q4 2021. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, users interested in inscribing artwork on Satoshis must first download the Bitcoin core and sync their node with the Bitcoin blockchain. Minters must also have a solid command of Command Line in Windows or Terminal on iOS.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/breaking-news-ticker\/apecoin-crashes-7-following-sec-probe-against-yuga-labs\/?swcfpc=1\">ApeCoin Crashes 7% Following SEC Probe Against Yuga Labs<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The 300 generative images under the TwelveFold collection will be minted as a 12&#215;12 grid-size piecework. Each piece combines 3D graphics and hand-drawn elements designed in-house. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Another distinction is that these images will not be related to other Yuga Labs NFTs minted on Ethereum. Therefore, the team has explained that they won&#8217;t, even in the future, be related or bear any utility.\u00a0<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Departure From the Tradition Of Minting On Ethereum?<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Since the NFTs are said to have no utility, collectors who wish to bid on the TwelveFold collection on Bitcoin are likely doing so for speculative reasons. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Nevertheless, Yuga Labs&#8217; NFT collections, primarily minted on Ethereum, have been positively received. Their collections are known as &#8220;blue-chip&#8221; NFTs, similar to CryptoPunks, which cost tens of thousands of dollars.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The isolated nature of TwelveFold NFTs is, however, being <\/span><span data-preserver-spaces=\"true\">criticized<\/span><span data-preserver-spaces=\"true\">\u00a0by some. On Twitter, a user <a href=\"https:\/\/twitter.com\/BoredElonMusk\/status\/33346305\" rel=\"nofollow\">said<\/a> that though he thinks Bitcoin Ordinals are &#8220;cool,&#8221; the decision by Yuga Labs seems &#8220;off-brand and random.&#8221;<\/span><\/p>\n<blockquote><p><span data-preserver-spaces=\"true\">Nothing against Bitcoin Ordinals (they are cool), but this strikes me as pretty off-brand and random. Everything thus far in the Yuga ecosystem feels like it has the potential to be interconnected, but I don&#8217;t get that sense from this.<\/span><\/p><\/blockquote>\n<p><span data-preserver-spaces=\"true\">Earlier this month, Yuga Labs settled with Thomas Lehman, the developer behind the &#8220;RR\/BAYC&#8221; project&#8217;s website and smart contracts. However, the trademark infringement\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cacd.855658\/gov.uscourts.cacd.855658.1.0.pdf\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">case<\/span><\/a><span data-preserver-spaces=\"true\"> against Ryder Ripps, who is accused of selling copycat BAYCs, is still ongoing.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) collection, will mint Ordinals inscriptions, similar to non-fungible tokens (NFTs), on the Bitcoin network. Yuga Labs To Mint TwelveFold NFTs On Bitcoin In an\u00a0announcement on February 27, Yuga Labs said they will mint 300 limited edition generative pieces and inscribe them on Bitcoin&#8217;s satoshis. The 300 NFTs from Yuga Labs will be under the TwelveFold collection and are set to be minted and auctioned later this week. Satoshi is the smallest unit of BTC, and has, in recent days, become a choice storage space for creators looking to take advantage of the relatively cheap block space on Bitcoin. Related Reading: APE Price: Bears Spark Jitters As Crypto Sell Pressure Mounts Yuga Labs&#8217; TwelveFold collection will be deployed via Ordinals, a new portal that has been gaining popularity in recent days. Through Ordinals, users can mint NFTs on Bitcoin, which inherently lacks smart contracting capability. With Ordinals, associated media, that is, images or video files is inscribed on Satoshi. This is now possible on Bitcoin, thanks to the recent Taproot upgrade, which was activated in Q4 2021. However, users interested in inscribing artwork on Satoshis must first download the Bitcoin core and sync their node with the Bitcoin blockchain. Minters must also have a solid command of Command Line in Windows or Terminal on iOS. Related Reading: ApeCoin Crashes 7% Following SEC Probe Against Yuga Labs The 300 generative images under the TwelveFold collection will be minted as a 12&#215;12 grid-size piecework. Each piece combines 3D graphics and hand-drawn elements designed in-house. Another distinction is that these images will not be related to other Yuga Labs NFTs minted on Ethereum. Therefore, the team has explained that they won&#8217;t, even in the future, be related or bear any utility.\u00a0 Departure From the Tradition Of Minting On Ethereum? Since the NFTs are said to have no utility, collectors who wish to bid on the TwelveFold collection on Bitcoin are likely doing so for speculative reasons. Nevertheless, Yuga Labs&#8217; NFT collections, primarily minted on Ethereum, have been positively received. Their collections are known as &#8220;blue-chip&#8221; NFTs, similar to CryptoPunks, which cost tens of thousands of dollars. The isolated nature of TwelveFold NFTs is, however, being criticized\u00a0by some. On Twitter, a user said that though he thinks Bitcoin Ordinals are &#8220;cool,&#8221; the decision by Yuga Labs seems &#8220;off-brand and random.&#8221; Nothing against Bitcoin Ordinals (they are cool), but this strikes me as pretty off-brand and random. Everything thus far in the Yuga ecosystem feels like it has the potential to be interconnected, but I don&#8217;t get that sense from this. Earlier this month, Yuga Labs settled with Thomas Lehman, the developer behind the &#8220;RR\/BAYC&#8221; project&#8217;s website and smart contracts. However, the trademark infringement\u00a0case against Ryder Ripps, who is accused of selling copycat BAYCs, is still ongoing. Feature image from Canva, Chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":521281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83565],"tags":[84911,87917,82423,87916,85708],"class_list":["post-521279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft","tag-bayc","tag-bitcoin-ordinals","tag-nfts","tag-twelvefold","tag-yuga-labs"],"acf":[],"yoast_head":"\n<title>Yuga Labs To Mint 300 NFTs On Bitcoin, Will It Be A Gamechanger?<\/title>\n<meta name=\"description\" content=\"Yuga Labs will mint Ordinals inscriptions called TwelveFold, similar to non-fungible tokens (NFTs), on the Bitcoin network.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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