NFT Community Criticizes Yuga Labs’ TwelveFold Artworks, Which Generated $16.5M

Earlier this month, Yuga Labs, the studio behind the Bored Ape Yacht Club NFTs and the Otherside metaverse, auctioned a generative NFT collection.

The collection entitled “TwelveFold” was created by the Chief Content Officer of Yuga Labs, Figge. It includes 300 highly-rendered generative 3D artworks based on the Bitcoin-native Ordinals protocol. The 288 generative tokens out of 300 were auctioned on a dedicated website.

First, the auction mode offered by Yuga Labs was criticized by the NFT community. To participate, individuals had to send the amount of their bid to the organization’s public address. Unsuccessful bidders received their Bitcoin back from Yuga Labs’ address.

All valid bids that did not rank in the top 288 have been returned in full to their receiving address. Bidders who won an inscription and increased their bids after the final block of the auction should empty the receiving address before inscriptions are sent.

— Yuga Labs (@yugalabs) March 7, 2023