The auction for Yuga Labs’ inaugural collection of non-fungible Bitcoin Ordinal tokens has ended, bringing the company $16.5 million in just 24 hours.
A total of 288 bidders won one of the Bitcoin NFTs from the “TwelveFold” collection. Yuga said that winners will receive their entry within a week, while unsuccessful bids will have their bid amount returned within 24 hours.
The TwelveFold auction has ended. Congratulations to the 288 highest bidders: they will receive their entry within a week. Eligible offers that did not rank in the top 288 will have the offer amount returned to your receiving address within 24 hours.
— Yuga Laboratories (@yugalabs) March 6, 2023
The auction returned 735 Bitcoin (BTC) with an estimated value of $16.5 million at current prices. The highest of the 288 bidders paid just over 7 BTC or $161,000 for one of the pieces.
Yuga announced the collection in late February, describing it as a “base 12 art system located around a 12×12 grid, a visual allegory for data mapping on the Bitcoin blockchain.”
It comprises a limited edition collection of 300 generative pieces enrolled in Satoshis on the BTC network. The lucky winners were eager to share their new NFTs online:
I was lucky enough to make a winning bid for a @yugalabs #double #BTC ordinal. I can’t wait to see how this ages in the next few decades. Will never catch me fading #yuga. Also… Massive Props for @nftsupply for help setting up a wallet etc. It is a great resource for all of us. pic.twitter.com/g8fSDIfhzX
— Carsonturner.eth ATL (@carsonturner) March 6, 2023
Related: Nifty News: Yuga Labs Jumps On The Ordinals Hype
As Cointelegraph reported, Yuga Labs received backlash over the weekend from the crypto community, which identified flaws in the way Yuga conducted the auction of the Ordinals collection.
