Yesterday, Yuga Labs announced a new collection for Bitcoin. Called Twelve Fold, the collection is 300 generative art pieces that they will inscribe on Bitcoin as Ordinals. The launch is the first large brand to explore Bitcoin’s new tech. Yuga will auction the collection sometime this week and give buyers a 24-hour notice before the drop.
Given the popularity of ordinals and the small size of the collection, this auction will likely be oversubscribed. Their tweet has 1.3M views already. But I am more interested in the mechanics of how they inscribe the pieces. For example, will they wait and choose interesting or rare sats (if it’s even yet possible)? What tech will they use for payments, like Lightning and BTC L1? How will the auction work? Tooling for Ordinals is still rudimentary compared to tooling for EVM or SOL NFTs. How a brand navigates an Ordinal auction and its pain points and inefficiencies could be a window into what future products we need to make Ordinals more user-friendly.
Twelve Folds is the first big brand launch on Bitcoin Ordinals and could set the standard for how other brands launch their collections on Bitcoin. Although Yuga is the first of the big brands to launch an Ordinal collection, I doubt they will be the last.