Engraving Bitcoin’s NFT Series

03/14/2023 08:05 • AI & Tech Insights • 83 views

On March 14, it was reported that the NFT series of Bitcoin, TwelveFold # 205, owned by YugaLabs, was repeatedly “engraved”. The insertion446221 and insertion444385 are both Twelvefold 205/300. The two are currently stored in the same Bitcoin address (bc1pshdmgmkt6pgw56mz94h5y2at4ryuug0ehpz8vg3lnf90xxkr356sjcazc7). The insertion444385 timestamp is 2023-03-1312:42:57, and the insertion446221 timestamp is 2023-03-1316:45:52. According to the official documents of the Ordinals agreement, the creator or owner of the Inscription cannot modify the Inscription after it is created. At present, Yuga Labs has not responded to this matter.

TwelveFold # 205 under Yuga has been repeated" Inscription"

Analysis based on this information:

On March 14, it was reported that the NFT (non-fungible token) series of Bitcoin, TwelveFold # 205, owned by YugaLabs, was repeatedly “engraved”. The repeated “engraving” of the insertion446221 and insertion444385, both Twelvefold 205/300, is causing concern. Currently, the two are stored in the same Bitcoin address, bc1pshdmgmkt6pgw56mz94h5y2at4ryuug0ehpz8vg3lnf90xxkr356sjcazc7. The insertion444385 timestamp is 2023-03-1312:42:57, and the insertion446221 timestamp is 2023-03-1316:45:52.

The Ordinal agreement’s official documents state that after the creator or owner of the Inscription creates it, they cannot modify it. However, Yuga Labs has not yet responded to these repeated “engravings” of the TwelveFold # 205 NFT.

NFTs are digital tokens that represent ownership of unique assets stored on a blockchain. NFTs can represent anything that is scarce and unique, which can include digital art, collectibles, or even tweets. Their use case has been recently booming, with high-profile sales such as Beeple’s $69 million sale of his digital art piece, “Everydays: The First 5000 Days.”

The TwelveFold # 205 NFT series is part of this boom, and their repeated “engravings” are causing concern amongst the owners and investors of these digital assets. The unauthorized modifications of these NFTs have potentially put the ownership of these unique digital assets in question.

The lack of response from Yuga Labs has raised further concerns, as the ownership and integrity of these NFTs are at risk. It is unclear who or what is responsible for their unauthorized modification, but the potential for loss of investment and ownership cannot be ignored.

In conclusion, the repeated “engraving” of the TwelveFold # 205 NFT series is a concerning development in the rapidly growing NFT market. The lack of response from Yuga Labs adds to the ambiguity surrounding the issue, and the potential loss of investment and ownership is a real concern. This situation highlights the need for better security and regulations surrounding the use of NFTs to ensure their integrity and value.

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Engraving Bitcoin’s NFT Series

TwelveFold # 205 under Yuga has been repeated" Inscription"

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