Yuga Labs to award Bitcoin for solving Ordinals puzzles

The team behind Bored Ape Yacht Club, Yuga Labs, has launched a series of encrypted puzzles based on their Bitcoin NFT collection TwelveFold, with cash prizes for the winners.

TwelveFold — a collection of 300 generative images, created in February on the Ordinals protocol. While the token auction drew some criticism in the community, the company managed to raise about $16.5 million from primary sales.

From September 5, the studio will release one “lunar puzzle” each week. The first to guess the correct answer will win a prize of 0.12 BTC (about $3,090 at the time of writing).

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“The TwelveFold puzzles remain faithful to the collection’s inspiration — the interconnections between time, mathematics and volatility,” — they said at Yuga Labs.

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For the thirteenth week, Yuga Labs will publish a “sun” puzzle, the reward for solving which will be one of the TwelveFold inscriptions. On the secondary market at the MagicEden marketplace, the floor price of tokens from the collection stands at 0.9 BTC (~$23,178).

Anyone can participate, not only holders of TwelveFold assets. However, Yuga Labs also announced “something” for TwelveFold holders.

To participate, entrants will need an Ordinals Bitcoin wallet. Then players must visit the TwelveFold website and download the latest puzzle. Answers are recorded directly on the blockchain via a transfer of a small amount.

Users solved the first puzzle in under a day.

Earlier in August, the share of Ordinals in Bitcoin transactions stood at 85% — 450,785 of the total 530,788. In total, since the protocol’s inception, about 25.6 million inscriptions have been created, generating 1149 BTC in fees.

In July, the Luminex Ordinals platform team introduced the BRC-69 standard, which simplifies and reduces the cost of issuing NFT collections.

Earlier, Ethereum co-founder Vitalik Buterin called the emergence of the Bitcoin inscription protocol a signal of a return to the blockchain’s “culture of creators”.