Yuga Labs, the firm behind the famous Bored Ape Yacht Club (BAYC) and CryptoPunks NFT collections, generated $16.5M from the auction of its first NFT collection on the Bitcoin network TwelveFold in 24 hours.
The auction opened on Sunday and reached 3,246 bidders in total.
- Ultimately, the top 288 bidders became eligible to receive an NFT from the 300-piece collection.
- Yuga Labs reserved 12 pieces for contributors, future donations, and philanthropic efforts.
- The highest bidder offered around $159,600 for the NFTs, while the lowest offer among the successful bidders was around $50,400.
- The winners will be able to receive their NFTs with a self-custodial wallet containing Bitcoin (BTC) and an empty Bitcoin address.
- The inscriptions will be delivered to the winners within a week, and unsuccessful bidders will take their return within 24 hours.
- Yuga Labs' first Bitcoin-based NFT collection consists of 300 limited-edition Ordinals NFT pieces, all 12x12 grids, that include both hand-drawn and 3D elements.
- Ordinals are digital assets permanently attached to a satoshi, or 1/100,000,000 of a full BTC.
- The firm defines the collection as a visual allegory for the cartography of data on the Bitcoin blockchain.
