BlocksInform
Berlin, March 3 – 2023: The Fold12 project has just announced the release of its Bitcoin blockchain NFT collection, which runs on the Ordinals protocol; meanwhile Yuga Labs, the company behind the Bored Ape Yacht Club, after being caught stealing their logo, BAYC decided to borrow the idea of an existing NFT collection from the fold12 project.
Fold12 launched its first auction on the Bitcoin blockchain and through the Ordinals protocol this week: the auction machinery offers a collection of 300 NFT coins, which is also the top bid on the Bitcoin blockchain. Are the nfts shaped like 12?12 grid, depicting the structuring of Bitcoin blockchain data. Compressed by the webp algorithm, it makes it possible to obtain a 10x compression resulting in lower commissions when storing a picture on the Bitcoin network.
Each nft incorporates both 3d elements and manually designed components. In the lower right corner nft users can identify the pli12 nft number, with the project logo displayed in the lower left corner. The collection is fully hosted on the Bitcoin network and has got the confirmation of their NFT release priority against the YL both on the Bitcoin network and in the Ordinals protocol registry, with the first mints already inscribed.
In order to participate in the auction, users must create their portfolio and file it with Bitcoin, which unlocks the NFT auction mechanisms. The bid for each frame takes 20 minutes and is extended by 20 minutes if a new user makes an offer. Yuga Labs announced the launch of an exact copy of the project using their extensive marketing capabilities.
“Though the earlier collections were constantly copycatted from the Yuga Labs itself, and numerous clones of BAYC and MAYС appeared, this time YL replicated an already existing collection; however, it is clear that both collections definitely attract great public attention: the first Fold12 NFT has already been bought at auction for 2 BTC” – comments Jane Kovacs, CTO at Fold12.
Contact:
[email protected]
Anna Meisch-Lennoix
Fold12.com
Berlin, Germany
Disclosure: It's a commissioned news release. Please research before you purchase a cryptocurrency or invest in a project. Read the full disclosure here.
