• The Yuga Labs 12Fold Collection auction ended recently and was a huge success, netting $16.5 million in one day.
• It recorded 288 winning bids, with the highest bidder paying over $161,000 for one Bitcoin NFT.
• Yuga Labs promised to send out their Bitcoin NFTs to winners within 7 days.
Yuga Labs 12Fold Collection Auction a Huge Success
The recently concluded Yuga Labs 12Fold Collection auction was a huge success and netted $16.5 million in one day. The event kicked off on March 5 and based on the announcement, 288 bidders received 288 inscriptions from the 300 NFT-like images on Satoshi using Ordinals. Even though many people criticized the auction model, it still proved to be successful in the end.
Highest Bidder Pays Over $161K for One Bitcoin NFT
Yuga Labs announced their success through a Twitter post and congratulated all of the 288 winners while promising to send out their Bitcoin NFTs within 7 days. Additionally, all other bidders who lost were also assured that their BTCs would be returned back to their wallets within 24 hours. According to details provided on TwelveFold Collection site, Yuga Labs realized 735 BTC worth almost $16.5 million at market price with the highest bidder paying slightly more than 7BTC (amounting to about $161,000) for one Bitcoin NFT!
Excitement Among Winners
Winners of the auction were extremely excited to receive their NFTs and took to Twitter to announce it expressing excitement over having been successful in their bid! For example; one of such winners Carsonturner posted his excitement on Twitter as soon as he was declared winner of his bid!
Ordinals Protocol Adoption Likely To Increase
Thanks to this hugely successful first ever bitcoin NFT auction sale by Yuga Labs, adoption of Ordinals protocol is likely going to increase exponentially as they have successfully set a pace by leveraging number 1 crypto blockchain in this growing sector!
Criticisms About Auction Model
Though very successful in its own right; this auction did not sit well with many people due process involved which required sending BTCs directly into company wallet before any bids could be accepted or honored! Ethereum tumbled down significantly on charts after news went public about this controversial model followed by Yaga Lab’s . Casey Rodarmor , creator of Ordinals even had go so far as warning Yaga labs against following such process again or else he will wash his hands off project & influence others too do same !