• Yuga Labs announced its new TwelveFold collection, comprised of 300 tokenized computer-generated artworks.
• Google Trends data shows interest in NFTs has waned, even as trading volumes are surging.
• Korean multinational giant Lotte has partnered with Polygon for the NFT space.
Yuga Labs Launches „TwelveFold“ Collection
Yuga Labs have announced a new nonfungible token (NFT) collection on Bitcoin dubbed „TwelveFold.“ The move was announced via Twitter on Feb. 28, with Yuga Labs unveiling 300 tokenized computer-generated artworks as part of the TwelveFold collection that will go up for auction later this week.
Ordinals Protocol and Inspiration Behind Collection
The concept behind the collection is based on mathematics, time and the Bitcoin blockchain. „TwelveFold is a base 12 art system localized around a 12×12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain,“ according to a blog post from Yuga Labs. Satoshis are used to identify individual units of a bitcoin, and using Ordinal Theory protocol one can track when that satoshi was minted in time. This relationship between time and mathematics inspired the collection from Yuga Labs.
Interest in NFTs Waning?
Despite recent buzz around Bitcoin NFTs or Ordinals driving Yuga Lab’s decision to drop their TwelveFold collection, Google Trend data suggests that search interest for NFTs has fallen to levels not seen since early 2021—before the NFT boom—which could indicate waning interest in these tokens.
Korean Giant Lotte Partners With Polygon
In other news, Korean multinational giant Lotte has partnered with Polygon to enter into the NFT space. This partnership could potentially open up more opportunities for growth within this emerging industry.
Summary
Yuga Labs recently launched their Twelvefold Collection comprising of 300 tokenized computer-generated artworks while Korean multinational giant Lotte partnered with Polygon to enter into the NFT space; however Google Trend data indicates waning interest in these tokens compared to earlier years prior to their boom period .