The NFT community has raised their voices against Yuga Labs' TwelveFold collection, which astonishingly brought in $16.5 million.
In Brief
Yuga Labs' 'TwelveFold' collection, which is based on generative art, has made waves, bringing in $16.5 million denominated in Bitcoin.
The artworks turned out to However, the project has faced criticism from the community for its perceived lack of uniqueness.
Earlier this month, the creative team at Yuga Labs, known for their renowned Bored Ape Yacht Club NFTs and the Otherside virtual universe, launched an auction for a new generative NFT series.
The 'TwelveFold' series was crafted by Yuga Labs' Chief Content Officer, Figge, featuring 300 meticulously designed generative 3D artworks that leverage the Bitcoin-native Ordinals protocol. Out of these, 288 unique tokens were put up for auction on a specialized platform. website .
Initially, Yuga Labs implemented a particular auction format that was met with skepticism from the NFT community. Participants were required to transfer their bids to a public address managed by Yuga Labs. Those who weren’t successful in their bids received their Bitcoin back from the company. criticized All legitimate bids that did not place within the top 288 were fully refunded to the respective bidders. Winners who opted to increase their bids after the auction's final block needed to empty their receiving addresses before acquiring the inscriptions.
Yet, the moment the tokens went live, the community once again expressed dissatisfaction toward Yuga Labs. NFT enthusiasts and critics alike labeled the TwelveFold NFTs as 'poor quality' and 'art-shaming' due to their perceived similarities. generate Many commented that all the generative artworks in the collection bore striking resemblances to each other, with only minor alterations.
Many perceived the TwelveFold collection as profoundly underwhelming. called Critics noted that with just 300 pieces, the lack of distinctiveness across the collection left much to be desired. artworks One individual shared their emotional shift from feeling disheartened to relieved after missing out on their bid.
$154 million has been consumed in gas fees during the minting process of Otherside Lands. closed Please be aware that the content on this page is not designed to serve as and shouldn’t be seen as legal, tax, investment, or financial advice. Always invest responsibly and only what you can afford to lose. If unsure, seeking independent financial counsel is advisable. For more details, consider reviewing the terms and conditions, alongside the help and support sections offered by the issuer or advertiser. MetaversePost strives for accuracy and objectivity in its reports, but market conditions can shift abruptly.
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