Yuga Labs, the parent company of Bored Ape Yacht Club, has completed its first Bitcoin-based non-fungible token (NFT) collection called TwelveFold, with the top 288 successful bidders receiving NFTs at the end of the auction. The 300-edition generative art project generated 735.7 BTC (approximately $16.5 million) and one token was sold for as high as 7.1159 BTC (around $159,600), while the lowest accepted bid was 2.2501 BTC (about $50,400).
The NFTs will be inscribed onto satoshis on the Bitcoin blockchain, and a directory of all TwelveFold ordinals will be published after the inscription process. The artist behind the 3D project, Michael Figge, explained that the collection has four different color palettes that progress throughout the seasons, and it is a nod to being optimistic regardless of whether it is a Crypto Winter or a Defi Summer. The collection will not have any future utility or interact with Yuga Labs' other Ethereum-based projects.