There's been a lot of excitement in the Bitcoin serial number space lately, seeing multiple collectibles auctioning off their NFTs for a lot of money.
However, a team with a solid reputation in the non-fungible token space has once again grabbed the headlines. Yuga Labs has concluded the auction of its first ordinal series called TwelveFold, accepting a sizeable minimum bid. Yuga Labs is the company behind the popular Bored Ape Yacht Club NFT collection and related products. It has quickly become a household name, and no matter what project the team announces, the community jumps at the chance to get involved... no matter the price.
That said, Yuga Labs recently announced that they will be participating in the Bitcoin Ordinal through a 300-piece limited collectible called TwelveFold.
Its auction took place yesterday, and the system is pretty simple people have to bid on one of a total of 288 items, and the highest bidder gets a serial number. Successful buyers must provide a self-custodial wallet containing some BTC, and an empty BTC address capable of receiving the artwork itself. The auction recently concluded and the results did not disappoint.
According to some reports, the lowest bid was 2.2501 BTC. At current prices, that's about $50,000. The highest bid was around 7.1559 BTC. According to the team, there were 3,246 bidders, and the auction itself managed to generate around $16.5 million roughly 735 BTC.
Michael Figge is the co-founder of a popular NFT project called 10KTF and the artist behind the TwelveFold project.
Yuga Labs has previously specified that this particular collection will not interact with other Ethereum-based projects. It also clarified that it will not serve any purpose. Essentially, the buyer paid over $50,000 for the artwork itself, and of course the brand name.
