Yuga Labs has revealed the timing of the auction for the sale of bitcoin-NFT


The company behind the Bored Ape Yacht Club NFT collection, Yuga Labs, will launch an auction for the sale of non-fungible TwelveFold series tokens on the bitcoin blockchain on March 6 at 01:00 Kyiv time (02:00 Moscow time). The auction will last approximately 24 hours.

According to the statement, the auction will end on March 7, on a block generated “immediately” before 01:00 Kyiv time (02:00 UTC). The starting price of trading will be 20,000 Satoshi (~$5).

The company introduced TwelveFold at the end of February 2023. The series consists of 300 digital items, 12 of which will be reserved for charitable purposes. For Yuga Labs, this is the first collection released outside of the Ethereum blockchain.

The new NFTs are based on the Ordinals protocol. The latter allows you to post content on the network of the first cryptocurrency using satoshi (serialization) to write data into the signature of a bitcoin transaction.

According to site project, to participate in the TwelveFold auction, you will need two bitcoin addresses: to place a bet and to receive NFTs. The latter must conform to the Taproot format.

The team also warned that the receive address must be empty. Otherwise, the user runs the risk of accidentally transferring satoshi containing data about digital items as part of a normal transaction.

Recall that the developers of Litecoin created an analogue of the Ordinals protocol, which allowed the release of digital artifacts on the blockchain, similar to the network of the first cryptocurrency.

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