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Yuga Labs, the parent company of Bored Ape Yacht Club, has concluded its TwelveFold auction by launching its first Bitcoin-based non-fungible token (NFT) collection.
The generative art project, consisting of 300 editions, awarded NFTs to the top 288 successful bidders at the conclusion of the auction, with Yuga Labs reserving 12 inscriptions for future donations and philanthropic efforts.
The auction generated 735.7 BTC, or approximately $16.5 million, from 3,246 total bidders. The 288 NFTs will be inscribed onto satoshis on the Bitcoin blockchain. The highest selling token went for 7.1159 BTC or about $159,600 at the time of writing.
Successful buyers had to supply a self-custodial wallet containing bitcoin and an empty bitcoin address to receive the art. Yuga Labs specified that the collection will not have any future utility or interact with any other of its Ethereum-based projects.
The collection, which is inspired by the relationship between time, mathematics, and the blockchain, features four different color palettes inspired by winter, spring, summer, and autumn.
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