Yuga Labs Returns Invalid Bids for 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 …
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
Interpret the above information:
On March 7, Yuga Labs posted a message on Twitter regarding the NFT (non-fungible token) series TwelveFold. The company announced that all valid bids that did not rank in the top 288 have been returned to their receiving address. This means that bidders who placed bids but did not meet the minimum threshold required for the top 288 rankings, will have their funds returned to them.
The message also included a warning for bidders who win the inscription and increase their bids after the end of the auction. They must clear the receiving address before the inscription is sent. This is to ensure that there are no errors or discrepancies in the transfer of funds. The message ended with a promise that the company will send a notice from the account before sending out the inscription.
Yuga Labs is a collective of developers, artists, and technologists based in New York City. They specialize in creating unique digital experiences, such as NFTs. NFTs are digital assets that are unique and cannot be replicated or exchanged for other assets, making them highly sought after by collectors and investors. They are typically stored on a blockchain, a decentralized database that is secure, transparent and highly resistant to tampering or hacking.
The TwelveFold series is one of Yuga Labs’ most popular NFTs. It consists of 12 distinct artworks, each with its own unique characteristics, features and rarity levels. Each artwork was auctioned off separately, and bidding was open from February 28 to March 7. The top 288 bids received for each artwork were accepted, while all other bids were returned.
Yuga Labs’ decision to return invalid bids is in line with their commitment to transparency and fairness. By ensuring that only the top 288 bids are accepted, they are able to maintain the value and exclusivity of the NFTs in the TwelveFold series. The warning about clearing the receiving address before the inscription is sent is a smart move to prevent any potential issues that may arise from incorrect or incomplete fund transfers.
In conclusion, Yuga Labs’ message on Twitter regarding the TwelveFold series was a reminder of their dedication to providing a fair and secure marketplace for NFT collectors and investors. This move also reflects their commitment to promoting the long-term value of their NFTs by ensuring exclusivity and transparency.
Overall, the keywords associated with this message are Yuga Labs, NFT series, TwelveFold, bids, and invalid bids.
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