Berlin-based project Fold12 has announced the release of its Bitcoin blockchain NFT collection, which runs on the Ordinals protocol. The collection features a 300-piece NFT collection arranged in a 12×12 grid, representing the data structuring of the Bitcoin blockchain. The NFTs are compressed by the webp algorithm, allowing for a 10x compression and lower commissions when storing an image on the Bitcoin network.
However, controversy has arisen as Yuga Labs, the company behind the Bored Ape Yacht Club, has been caught stealing the logo of Fold12. In response, Yuga Labs has decided to borrow the idea of an existing NFT collection from Fold12.
Fold12’s first auction on the Bitcoin blockchain and via the Ordinals protocol began this week. This auction-like mechanics is the first of its kind on the Bitcoin blockchain. Each NFT incorporates both the Fold12 logo and a unique design, making them highly collectible.
The Fold12 project aims to bring a new level of creativity and innovation to the NFT space, and the release of their Bitcoin blockchain NFT collection is a significant step towards achieving this goal. The project has already gained a lot of attention from the crypto community, and it will be interesting to see how it develops in the coming months.
