Yuga Lab's Bitcoin NFT Collection Attracted $16,5 Million of Net Profit

The auction of the first Bitcoin NFT collection by Yuga Labs dubbed TwelveFold has just ended, having attracted a whopping 735 BTC or nearly $16.5 million in 24 hours. The limited-edition series of 300 tokens on the Ordinals protocol was put up for auction on March 5th awarding 288 lucky bidders by its end.

According to Yuga Labs' tweet, each winning bidder will receive its TwelveFold inscription within one week. The valid bids that failed to enter those 288, were returned to the participants' wallets within 24 hours.

The highest bid reached a hefty tag of 7.11 BTC or $161,000 at the time of the auction. The second-largest offer was only 0.11 BTC less, reaching 7 BTC sharp, while the lowest bid among 288 in total, was marked at 2,22501 BTC.

The feed of Yuga Labs' official Twitter account is now full of posts of gratitude from the auction winners. Thus, the lucky winner of the TwelveFold #1 NFT shared his excitement in a tweet that reads: "I was lucky enough to place a winning bid for a Yuga Labs Twelvefold BTC Ordinal. Can’t wait to see how this ages in the decades to come. Won’t ever catch me fading yuga. Also… Massive props to NFTsupply for help setting up a wallet etc. He’s a huge resource for us all."

Although the auction seemed to run flawlessly, Yuga Labs received backlash from crypto enthusiasts who noticed some drawbacks in the way it was conducted.

Nevertheless, we hope this slight misunderstanding will be settled soon, and the company will please its fans with the next upscale NFTs on the Bitcoin-based Ordinals protocol.