Yuga Labs’ Embrace of Bitcoin NFTs: A Game-Changing Moment

• Yuga Labs, the parent company of Bored Ape Yacht Club, generated $16.5 million from its TwelveFold NFT auction using the Ordinals protocol on Bitcoin.
• Yuga Labs has been a powerhouse in the NFT space, and their embrace of Bitcoin is a significant step towards adoption of cryptocurrency.
• The controversy around the Ordinals protocol and competition in the NFT marketplace are also discussed.

Yuga Labs’ Embrace of Bitcoin NFTs

Yuga Labs, the parent company of Bored Ape Yacht Club, recently held an auction for 288 non-fungible tokens (NFTs) as part of its TwelveFold collection using the Ordinals protocol on Bitcoin and earned $16.5 million from it. This move is significant because it shows that one of the most powerful players in the NFT space is embracing cryptocurrency.

The Controversy Around Ordinals Protocol

Critics have raised concerns about the Ordinals protocol due to its lack of decentralization and potential for manipulation or censorship, however many believe that applications like this will be key on-ramps for increased adoption of cryptocurrencies by mainstream audiences.

Competition in the NFT Marketplace

Competition among marketplaces is intensifying as more companies look to enter this space with their own protocols and platforms. However, Yuga Labs remains one of the most established players with a well-known brand name and expansive portfolio of intellectual property related to non-fungible tokens (NFTs).

Outlook on Bored Ape Yacht Club

Bored Ape Yacht Club has seen steady growth since its launch two years ago and continues to expand its offerings both online and offline. With new projects like TwelveFold gaining traction in crypto circles, there’s no doubt that interest in Bored Ape will continue to grow as well.


Yuga Lab’s embrace of Bitcoin through its TwelveFold collection was an important signal for increased adoption into mainstream audiences despite some controversy surrounding its use of Ordinals protocol . Competition within marketplaces continues to rise but Yuga Lab’s remains an established player with vast experience in creating successful non-fungible token (NFT) projects such as Bored Ape Yacht Club which have seen steady growth over recent years.