TwelveFold: Controversial Yuga Labs Sale Generates $16M

Yuga Labs has collected 16.5 million dollars through TwelveFoldhis auction sale d’digital artifacts based on blockchain Bitcoin.

Unveiled in late February by Yuga LabsTwelveFold, a collection of 300 “generative artworks inscribed on satoshis on the blockchain Bitcoinwas put on sale at midnight Monday.

288 tokens have been assigned to separate collectors as part of a auction salein Bitcoin (BTC), which lasted 24 hours and generated a cool 16.5 million dollars (735 BTC).

The operation, which ended Monday night, attracted a total of more than 3200 biddersaccording to the startup supported by a16z. The 12 remaining tokens are reserved for “contributors” and “philanthropic initiatives”.

The operation of the sale TwelveFold However, the controversy on the networks. The creator of Bored Ape Yacht Club asked the participants to deposit their bitcoins in custody to be able to bid.

Yuga is setting a VERY bad precedent by holding an auction like this. They are taking custody of bidders’ bitcoins with the promise of returning unsuccessful bids. No doubt they will, but this model is a scammer’s dream, and credible players need to set the best example.” tweeted an internet user.

An observation notably shared by Casey Rodarmorthe architect of the project Ordinalswho didn’t mince his words and blasted the young shooter in a tweet.

The tokens put on sale Monday by Yuga Labs were launched via Ordinalsa protocol that allows to create NFT on the Bitcoin blockchain. The latter offers the possibility of adding text, images or videos to satoshisthe smallest unit of the network, in order to generate “digital artifacts” similar to non-fungible tokens.

Its launch in January resurrected a long-standing debate in the Bitcoin community.

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