Business News Report
March 13, 2023

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

In Brief

Yuga Labs’ generative NFT collection “TwelveFold” generated $16.5 million in Bitcoin.

The artworks turned out to lack differentiation, and the collection gets criticized by the community.

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.

On March 6, the TwelveFold NFT collection was sold out despite criticism. The studio managed to generate $16.5 million worth of BTC, with the highest bid of 7.1159 BTC (about $173,243 at the moment of writing). The lowest winning bid was 2.2501 BTC (approximately $54,780).

However, as soon as the tokens were minted, the community criticized Yuga Labs again. NFT holders and non-holders called the TwelveFold NFTs “garbage” and “art-shaming,” as the collection lacks differentiation. The 288 generative artworks look very similar, with small details changed.

On a side note, Yuga Labs is one of the companies that held its deposits in Silicon Valley Bank, which was closed on Friday, March 10. PROOF Collective, the creators of the blue-chip collection Moonbirds, also kept its funds in Silicon Valley Bank. 

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
EthCC In Cannes: Where Crypto Narratives Are Written — XPR.Group Recap
Lifestyle News Report Technology
EthCC In Cannes: Where Crypto Narratives Are Written — XPR.Group Recap
July 18, 2025
EnclaveX Unveils EdgeBot: The First Telegram-Based Trading Bot Native To Avalanche
News Report Technology
EnclaveX Unveils EdgeBot: The First Telegram-Based Trading Bot Native To Avalanche
July 18, 2025
Outer Edge DC Partners With GBA For Reimagined FoMGL Summit, Bringing Global Leaders Together At Capitol Hill
Business Lifestyle News Report Technology
Outer Edge DC Partners With GBA For Reimagined FoMGL Summit, Bringing Global Leaders Together At Capitol Hill
July 18, 2025
DePIN × RWA Takes Center Stage At DePIN Expo 2025, Advancing On-Chain Innovation For Physical Assets
Lifestyle News Report Technology
DePIN × RWA Takes Center Stage At DePIN Expo 2025, Advancing On-Chain Innovation For Physical Assets
July 18, 2025