Yuga Labs’ TwelveFold auction, which saw the company sell its first collection of Bitcoin ordinals, has concluded on March 6 following a weekend sale.
Yuga Labs auction brings in $16.4 million
The auction saw 288 successful bidders win ownership of the collectible crypto assets. Those bidders collectively placed more than 735 BTC ($16.4 million) on 288 assets. The top bidder placed a bid of 7.1159 BTC ($160,000) on a single collectible.
The auction is notable as it is one of the first major applications for collectibles inscribed through Bitcoin’s new Ordinals feature. This feature aims to provide an alternative to NFT standards on Ethereum and other blockchains, which are used much more frequently.
Yuga Labs initially announced the sale on Feb. 28. At that time, it did not indicate the exact time or date that the auction would begin. The sale finally began on March 5 at 3:00 p.m. PST and ran for 24 hours. The start time was announced shortly before the event.
Yuga Labs is best kno
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