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Yuga Labs Returns Valid Bids from NFT Series TwelveFold

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On March 7, Yuga Labs said on Twitter: \”All the valid bids that did not rank in the top 288 of the NFT series TwelveFold have been returned to their receiving …

Yuga Labs Returns Valid Bids from NFT Series TwelveFold

On March 7, Yuga Labs said on Twitter: “All the valid bids that did not rank in the top 288 of the NFT series TwelveFold have been returned to their receiving address. Bidders who win the inscription and increase their bids after the auction of the last block should clear the receiving address before the inscription is sent. Before sending the inscription, we will send a notice from this account.”

Yuga Labs reminded the winner of the TwelveFold auction to clear the acceptance address in advance

Interpretation of the news:


Yuga Labs, the mastermind behind NFT series TwelveFold, recently announced on Twitter that all the valid bids that did not make it to the top 288 have been returned to their respective receiving addresses. This announcement came as a surprise to the bidders who were eagerly waiting for the auction to conclude.

The message explains that those bidders who have won the inscription and have increased their bids must clear the receiving address before the inscription is sent. Moreover, Yuga Labs has stated that it will send a notice from its account before sending the inscription.

So, what are NFTs, and why is this message significant? NFTs or non-fungible tokens are blockchain-based digital assets that are unique and verifiably scarce. NFTs have been taking the art world by storm, with many digital artists and creators selling their works for millions of dollars.

In the case of TwelveFold, Yuga Labs released a series of 288 unique NFTs, each representing a specific moment in time. These NFTs were put up for auction, with bidders vying for the chance to own one of these rare NFTs.

Yuga Labs’ decision to return valid bids that did not make it to the top 288 is indicative of the company’s commitment to fairness and transparency. By doing so, Yuga Labs is setting a precedent for other NFT creators and platforms to follow.

The message also highlights the importance of being diligent when bidding on NFTs. Bidders should ensure that their receiving address is clear before any inscription is sent to avoid any confusion or delays.

In conclusion, Yuga Labs’ announcement regarding the return of valid bids that did not make it to the top 288 of the TwelveFold NFT series is a significant move for the NFT marketplace. This announcement reinforces Yuga Labs’ commitment to fairness and transparency and encourages other NFT creators and platforms to follow suit.

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