On Monday, February 27, 2023, at 1:02 p.m. Eastern time, the number of audible inscriptions on the bitcoin blockchain exceeded 200,000. 200,000 In addition to the inscriptions, Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), announced that the team has created a collection of 300 generative ordinal NFTs called Twelvefold revealed that the team has created a collection of 300 generative ordinal NFTs called Twelvefold.
Bitcoin has ticked over 200,000 ordinals so far, and Yuga Labs is entering the bitcoin-based digital collectibles market
Ordinal inscriptions continue to be minted on the Bitcoin blockchain, and at 1:02 p.m. ET on Monday, the Ordinal count crossed the 200,000 mark; since the first Ordinal inscription was minted on December 16, 2022, at block height #767,753, the 200,000 It took about 72 days to reach the 10,000 mark; the second Ordinal inscription,was #2, was incorporated into the chain three days later on December 19 at block height #768,094; it took 45 days to reach the #20} second inscription,; the 1,000th engraving,It took 45 days to reachthe 1,000th inscription, which was minted on February 2, 2023. Thereafter, until February 27, the increase in Ordinal inscriptions reached 19,900%.
At the time of this writing, there are approximately212,793 Ordinal inscriptions on the chain. Basically, an Ordinal Inscription is a non-friable asset (NFT) generated by inscribing data on the smallest denomination (satoshi) of Bitcoins. So far, people have inscribed images, videos, text, and software applications on the blockchain. Images are by far the most common, but text is also preferred and applications are becoming more popular. Similar to the established blue-chip NFT collection on the Ethereum blockchain, bitcoin-based NFT collections are also trying to catch on.
In fact, among the first 6,900 Ordinal inscriptions area substantial number of collections. Now, Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) NFT, are entering the world of bitcoin-based digital collectibleswith a new compilation of NFTs called Twelvefold. The collection consists of 300 generative creations inscribed by the Yuga Labs team.” The auction for “Twelvefold” will begin later this week. We will provide details and exact timing of the auction within 24 hours,” Yuga Labs explainedon Twitter.
In ablog postabout the
collection, Yuga Labs said, “Twelvefold is a localized base-12 art system around a 12×12 grid, a visual cartography for data on the bitcoin blockchain. It is an allegory”. The collection includes highly rendered 3D elements as well as hand-drawn features that pay homage to the Ordinal nameplate, which is currently done by hand.” In addition to bitcoins, people have been minting Ordinal Inscriptions on t