NiftyNoon: Is TwelveFold by Yuga Labs "Good" Art?

Yuga Labs faces harsh community criticism over some underwhelming outputs for its TwelveFold generative art collection (March 15, 2023)

Nifty Thought

• While Yuga Labs, the company behind the famous Bored Ape Yacht Club ecosystem, may not be traditionally associated with fine art, it has seemingly been making strides in an attempt to break into the space. As the owners of the CryptoPunks smart contract, Yuga Labs has created its CryptoPunks Legacy Project that has focused on getting CryptoPunk NFTs into notable art museums such as ICA Miami and Centre Pompidou. It has now launched its own in-house art collection, TwelveFold. The outputs have been highly polarizing in the community with some criticizing the quality of the art while others cite its potential for historical provenance given its relatively low (in the grand scheme of things) Bitcoin ordinal inscription number.

• Personally, I believe the visual aesthetics of a piece of art is generally less important than the story behind that art. It is narrative, not visual beauty, that makes fine art valuable. Therefore, the quality of TwelveFold’s art only matters insofar as it creates a meaningful narrative for the project. However, unlike comparable projects such as Autoglyphs from Larva Labs, TwelveFold does not seem to be pushing artist boundaries or setting new standards for generative and crypto art. When people refer to historical significance for NFTs such as CryptoPunks, they often truly mean historical cultural relevance. There are many NFTs that predate CryptoPunks and therefore have more provenance than the project. However, it is CryptoPunks that inspired the NFT profile picture revolution leading to titans such as Bored Ape Yacht Club and Azuki. So far, it seems unlikely that TwelveFold will inspire a similar movement. Ultimately, only time will tell.

Project News

• Yuga Labs announces TwelveFold inscriptions have been sent out to all winning bidders:

  Yuga Labs @yugalabs

  TwelveFold inscriptions have been sent to all empty receiving addresses who landed a winning bid.

  

• OpenSea announces the rolling out of new collection offer protection measures to help protect buyers from unwanted purchases:

  OpenSea @opensea

  1/ We’ve rolled out new collection offer protection measures that help protect buyers from purchasing items they don’t want. Specifically: sometimes, an item will be in a valid state when an offer is made, only to be flagged as stolen or have its attributes change later.

• Blur adds new notification feature when NFTs sell across any marketplace and when bids get accepted:

  Blur @blur_io

  🚨FEATURE ANNOUNCEMENT🚨 Blur now notifies you when your NFTs sell across any marketplace and when your bids get accepted.

  

• Jack Butcher announces he will begin using the Checks metadata to feature other artists:

  Jack Butcher @jackbutcher

  something a little different going to start using checks metadata to feature some artists first is @proroketh

  

• PROOF shares further details on archive of feelings drop:

  PROOF (🥃,🦉) @proof_xyz

  Learn more about tomorrow’s drop:

  

  proof.xyz“Archive of Feelings” by Mika Tajima | PROOF × Pace VersoArchive of Feelings (January 1, 2023, United States of America), is the first-ever solo NFT project by multidisciplinary artist Mika Tajima, and the first collection exhibited through PROOF × Pace Verso.

Community News

• Community criticizes TwelveFold art quality after Yuga Labs raises more than $16 million in their first ordinal mint:

  Bag Holder @BagHoldingNFTs

  Twelvefold looks extremely underwhelming. the lack of differentiation in a collection of just 300 pieces doesn’t make sense Went from feeling defeated to elated that I missed out on my bid 😕

  

• CryptoPunks flip Bored Ape Yacht Club:

  NFTstatistics.eth @punk9059

  Punks have flipped apes (4 tweets 🧵)

  

• Pudgy Penguins team reminds Pudgy owners to stay safe and pay attention to what they are signing as Blur signatures are now being used to steal NFTs:

  TheChild 🐧 @TheChild1996

  Stay Safe Penguins! Tools like @PocketUniverseZ @_joinfire @wallet_guard and @RevokeCash are phenomenal for understanding exactly what you’re signing, but nothing beats learning signatures yourself and using multiple wallets to limit risk! https://t.co/egvKumwW77

  

  Pocket Universe 🟣 @PocketUniverseZ

  Blur signatures are now being used to steal NFTs ☠️ These are even more dangerous than the Opensea/Seaport signatures because the message is unreadable We've already added a security measures to keep you safe Here's a quick rundown 👇 https://t.co/ujAwmOfcMa

• Azuki owner shares experience with recent Azuki Spirit purchase:

  Erick 🦦 @EB7

  (1/5)For context on my tweet. I should have given it before tweeting and maybe went over with the 🤡 A couple months ago I had a spirit I loved (boombox spirit) and this spirit came on the market. My absolute favorite. At the time I was talking with Jrocks. He asked me why I th

Quick Stats:

• OpenSea Daily Volume: 5,479 ETH (▲ 3.61%)

• Blur Daily Volume: 18,750 ETH (▼ 2.54%)

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NFT Daily Winners:

• 🐈‍⬛ VeeFriends: 4.23 ETH (▲ 1.93%)

• 🚬 CryptoPunks: 67.00 ETH (► 0.00%)

NFT Daily Losers:

• ⛩️ Azuki: 14.43 ETH (▼ 0.11%)

• 🌈 Doodles: 4.14 ETH (▼ 0.83%)

• 🦧 Bored Ape Yacht Club: 65.45 ETH (▼ 1.21%)

• 🐧 Pudgy Penguins: 5.08 ETH (▼ 2.02%)

• 🥃 Proof Collective: 14.40 ETH (▼ 3.03%)

• 🧟 Mutant Ape Yacht Club: 14.12 ETH (▼ 3.25%)

• 🦉 Moonbirds: 4.39 ETH (▼ 5.20%)

• 🧬 Clone X: 3.92 ETH (▼ 5.75%)

• 🧝🏼‍♀️ DigiDaigaku: 6.60 ETH (▼ 7.04%)

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