Yuga Labs' TwelveFold Auction Starts Tomorrow

Yuga Labs' TwelveFold Auction Starts Tomorrow
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Yuga Labs announced that the TwelveFold auction starts tomorrow, March 5th, 2023, at 3pm PT. It will end 24 hours later, shortly before 3pm PT on March 6, 2023.

❗ Why It Matters

Earlier this week, Yuga announced a 300-supply experimental collection on the Bitcoin blockchain, signaling their intention to join the Ordinal movement. Today, they announced that the auction will last for 24 hours starting tomorrow, with the top 288 bids receiving the ordinals 1 week after the auction ends.

They also wrote an article with details about the auction, as well as an accompanying TwelveFold Auction FAQ.

🔍 The Details

  • 288 TwelveFold ordinals will be up for auction, as 12 will be retained for contributors, donations, and philanthropic efforts. Bids that don't place in the top 288 will be returned after the auction concludes.
  • Users will need two Bitcoin wallet addresses.
  • The TwelveFold auction will open on March 5th, 2023, at 3pm PT and close approximately 24 hours later on March 6th, 2023, at 3pm PT.
  • You can increase your bid, but you can't decrease it or withdraw. Once a bid is sent, it cannot be decreased, canceled, or withdrawn. There will be a summary of the auction bids on a leaderboard, where you can check your position. If two bids are exactly the same, the one sent first will be accepted.

ğŸŽ¬ Take Action

  • Yuga recommends users have a Tap-root enabled, self-custodied BTC wallet to receive an inscription. 
    • One wallet should contain the Bitcoin used for bidding.
    • The other wallet is the receiving address and should be an empty, self-custodied, Taproot-enabled wallet address.
  • Also note the auction will end slightly before 3pm, so bidders accustomed to sniping listings at the end will have to bid a few minutes before the end time.
    • "The results of the auction will be finalized based on the last completed block before 3pm PT on March 6th. For example, if the last block occurs at 2:57pm PT on March 6th, then any bids contained within the following block will be disregarded even if they were submitted prior to 3pm PT since they were not confirmed. We recommend ensuring your bids are in early since block completion times are never certain."

🧠 Learn More

 

 

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