Veröffentlicht von • The Fold12 project has just released its Bitcoin blockchain NFT collection, running on the Ordinals protocol.
• Yuga Labs also released a copy of this collection, attempting to replicate the success of the original.
• The auction for each image lasts for 20 minutes and is extended by another 20 minutes if a new user places a bid.
Fold12 Project Releases Bitcoin Blockchain NFT Collection
The Fold12 project has just announced the release of its Bitcoin blockchain NFT (non-fungible token) collection, which runs on the Ordinals protocol. Compressed by the webp algorithm, it allows to achieve 10x compression when storing an image on the Bitcoin network. Each NFT incorporates both 3D elements and hand-drawn components, with users able to identify the number of their NFT in the bottom right corner and see Fold12’s logo in the bottom left corner.
Yuga Labs Attempts To Replicate Success Of Original Collection
Yuga Labs, behind Bored Ape Yacht Club (BAYC), attempted to replicate this collection after being caught stealing their logo – leading them to borrow from existing ideas from Fold12’s project instead. This copy was launched using their extensive marketing capabilities, with numerous clones of BAYC and MAYС appearing before this time. It is clear that both collections have attracted great public attention: one of these NFTs was bought at auction for 2 BTC.
Auction Mechanics
In order to participate in the auction users need to create a wallet and deposit it with Bitcoin, which unlocks bidding mechanics for each image lasting 20 minutes – which is then extended by an additional 20 minutes if a new user places a bid.
Confirmation Of Release Priority Against YL On Both Networks
The collection is fully hosted on the Bitcoin network and has received confirmation of its release priority against YL on both networks – as well as within Ordinal protocol registry; with first mints already inscribed.
Press Contact
For more information please contact Jane Kovacs at hello@fold12.com or Anna Meisch-Lennoix at fold12.com in Berlin Germany