A controversial auction – Since several weeks, Bitcoin is the focus of attention. In fact, the project Ordinals paved the way for NFTs on Bitcoin, creating unprecedented excitement. However, the arrival of Yuga Labs in the field is heavily malignedparticularly with regard to its auction system.
Twelvefold: Yuga Labs launches on Bitcoin
Yuga Labs is the studio behind the iconic NFT collections Bored Ape Yacht ClubMAYC and Otherdeeds.
Faced with the craze around Ordinals NFTs on Bitcoin, the studio decided to take the plunge. Thus, on February 28, Yuga Labs introduced a new collection of 300 NFTs, called Twelvefold.
Not surprisingly, the sale of these NFTs was a big hit for Yuga Labs. Indeed, the buyers did not skimp on the means. Thus, some have spent up to 7 BTC ($147,000) to obtain an NFT from the Twelvefold collection.
In total, the sale would have generated $16.5 million in just 24 hourssetting a new record for NFTs on Bitcoin.
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An auction decried by the community
Although this sale is a success on the side of Yuga Labs, it will still have been marked by lively debates.
Indeed, to make a bid for an NFT Yuga labs, buyer’s funds had to be sent to a bitcoin address owned by the studio teams.
The latter having undertaken to return the funds of users whose offer has not been sufficient. A archaic mode of operation which will not have failed to make speak.
Thus, the Internet user @veryordinally said Yuga Labs has set a very bad track record for future Bitcoin selloffs. This points to the fact that this could legitimize this practice. This will undoubtedly be taken over by Web3 scammers.
“Yuga is setting a REAL bad precedent by holding such an auction. They take custody of bidders’ bitcoins by promising to return unsuccessful bids. I have no doubt they will, but this model is a scammer’s dream, and credible actors need to set a better example. »
This thought was quickly taken up by Casey Rodarmorthe founder of Ordinals, who has Express his displeasure:
” Dear Yuga Labs
@veryordinally is right. Actions like this prove that for certain entities and people: Once a shitcoiner, always a shitcoiner.
If I, personally, Casey Rodarmor, ever see you, Yuga Labs, the entity, messing around with degenerate bullshit like that again, I’ll forever wash my hands of it and encourage others, including those who are close to me, to do the same.
Fuck you, you bunch of highly regarded morons,
Casey Rodarmor. »
Once again, the Yuga Labs studio finds itself in turmoil. Last February, the studio wassingled out for using an image of which they did not own the intellectual property for the BAKC collection logo.
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