{"id":75048,"date":"2023-03-05T16:15:54","date_gmt":"2023-03-05T14:15:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75048"},"modified":"2025-09-10T03:17:29","modified_gmt":"2025-09-10T00:17:29","slug":"yuga-labs-reveals-timing-for-bitcoin-nft-auction","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/yuga-labs-reveals-timing-for-bitcoin-nft-auction\/","title":{"rendered":"Yuga Labs reveals timing for Bitcoin NFT auction"},"content":{"rendered":"<p>The company behind the Bored Ape Yacht Club NFT collection, Yuga Labs, will launch an auction to sell the TwelveFold non-fungible tokens on the Bitcoin blockchain on March 6 at 01:00 Kyiv time (02:00 MSK). The bidding will last about 24 hours.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The TwelveFold auction will begin tomorrow March 5th, 2023 at 3PM PT and and will conclude 24 hours later on the block immediately before 3PM PT on March 6th, 2023. <a href=\"https:\/\/t.co\/ElKhupaKqo\">pic.twitter.com\/ElKhupaKqo<\/a><\/p>\n<p>\u2014 Yuga Labs (@yugalabs) <a href=\"https:\/\/twitter.com\/yugalabs\/status\/1632162026641342469?ref_src=twsrc%5Etfw\">March 4, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the statement, the auction will close on March 7 \u2014 on the block generated immediately before 01:00 Kyiv time (02:00 MSK). The starting bid will be 20,000 satoshis (~$5).<\/p>\n<p>The company <a href=\"https:\/\/forklog.com\/en\/news\/yuga-labs-to-launch-twelvefold-bitcoin-nft-collection\">introduced<\/a> TwelveFold in late February 2023. The series consists of 300 digital items, 12 of which are reserved for charity-related purposes. For Yuga Labs this is the first collection released outside the Ethereum blockchain.<\/p>\n<p>The new NFTs are built on the Ordinals protocol. The latter enables content to be inscribed on the Bitcoin network using satoshis (serialization) to record data in a Bitcoin transaction signature.<\/p>\n<p>According to <a href=\"https:\/\/twelvefold.io\/faqs\">the project\u2019s site<\/a>, participating in the TwelveFold auction requires two Bitcoin addresses: one for placing a bid and one for receiving the NFT. The latter must conform to the Taproot format.<\/p>\n<p>The team also warned that the receiving address must be empty. Otherwise, a user risks accidentally sending satoshis containing data about the digital items in a regular transaction.<\/p>\n<p>Earlier, developers <a href=\"https:\/\/forklog.com\/en\/news\/what-is-litecoin-ltc\">Litecoin<\/a> created <a href=\"https:\/\/forklog.com\/en\/news\/litecoin-network-launches-ordinals-nft-project-fork\">an analogue of the Ordinals protocol<\/a>, which allowed issuing digital artifacts on the blockchain in a manner analogous to the network of the first cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company behind the Bored Ape Yacht Club NFT collection, Yuga Labs, will launch an auction to sell the TwelveFold non-fungible tokens on the Bitcoin blockchain on March 6 at 01:00 Kyiv time (02:00 MSK). The bidding will last about 24 hours.<\/p>\n","protected":false},"author":1,"featured_media":75049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1356,1213,1176],"class_list":["post-75048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bored-ape-yacht-club","tag-nft","tag-ordinals"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=75048"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75048\/revisions"}],"predecessor-version":[{"id":75050,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75048\/revisions\/75050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75049"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}