After Yuga Labs wrapped up its Twelvefold Tuesday puzzle series by giving away a Twelvefold Ordinal NFT last week, the company’s Chief Creative Officer and creator of the Twelvefold Collection, Michael Figge, explained the importance of blockchain-based activities for the longevity of Bitcoin and teased physical prints of the 300-piece generative art collection!
Last Tuesday Yuga Labs’ 13-week cipher puzzle series based on its Ordinal NFT Collection came to an end after an unannounced winner solved the ‘Sun’ puzzle and won a piece from the Twelvefold collection!
After the final puzzle was solved, Yuga Labs’ Michael Figge, posted a 12-part thread on Ordinals place in the Bitcoin ecosystem and why the Bitcoin based NFTs may be critical for the long term viability of the blockchain.
“One day in the distant future, we think around the year 2140, all 21 million bitcoin will be finished mining. At that point, what's the financial incentive to keep hardware running,” Figge wrote. “Miners need to be sufficiently incentivized to run their hardware to secure the blockchain, or we got problems. We’ve seen a strong amount of transaction data ever since people began to build on ordinals. When activity goes up on the chain, alternate forms of revenue start appearing in the form of fees….Maybe there’s a future where they can continue to secure the blockchain because the chain transitions from mining to fees as a primary source of revenue. Any kind of transition won’t happen overnight. We have about 117 years to figure it out. Actually less bc block rewards probably won’t keep up. Not saying Ordinals is the definitive answer, but it is super weird that laser-eye maxis resist some level of innovation here.”
While ordinals role within the Bitcoin ecosystem is still up in the air, what’s next for the Twelvefold collection is set in stone. “Next step, physicals,” Figge wrote to end his thread,
As the Bored Ape Gazette previously reported, Yuga Labs and Figge first announced that they were working on Physical Twelvefold prints for their holders in April 2023, just a month and a half after the company sold 288 of their 300 Twelvefold generative art pieces for 735 BTC or $16.5 million USD.
“The team at Yuga have them in production for you,” Figge tweeted on April 28th. “We’re dialing in the framing prototypes now. You'll be able to see every detail. They're big (1.2m x 1.2m) -- These will be delivered via white glove delivery service at no extra charge to collectors. Will be in touch soon to coordinate.”
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