The auction for Yuga Labs’ first Bitcoin Ordinal Nonfungible Token (NFT) collection has ended, raising $16.5 million for the company in just 24 hours.
A total of 288 bidders won one of the Bitcoin NFTs from the “TwelveFold” collection. Yuga said that winners will receive their enrollment within a week, while unsuccessful bidders will receive their bid amount back within 24 hours.
According to NFT collector tropoFarmer, the auction raised 735 BTC worth an estimated $16.5 million at current prices. The highest of the 288 bidders paid just over 7 BTC, or $161,000, for one of the pieces.
Yuga announced the collection in late February, describing it as “a base 12 art system localized around a 12×12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain.”
TwelveFold #1 – Source: Yuga Labs
It includes a limited collection of 300 generative pieces inscribed on satoshis on the BTC network.
Related: Nifty news: Yuga Labs jumps on the Ordinals hype
As Cointelegraph reported, Yuga Labs received backlash from the crypto community over the weekend, which identified flaws in the way the Ordinals collection auction was conducted.
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