While many were excited when Yuga Labs announced its first ordinals NFT collection last month, the exact nature of its auction process is proving highly controversial. 

Casey Rodarmor – the inventor of Ordinals – called the NFT giant’s sale “degenerate” due to putting its participants’ Bitcoin holdings at risk. 

In a Twitter thread on Sunday, Yuga Labs published details surrounding how its upcoming “Twelvefold” auction would work. Twelvefold includes 300 NFTs – 288 of which were listed for auction, with the remaining 12 going to “contributors, donations, and philanthropic efforts.”

The firm instructed followers to visit the Twelvefold website to enter the auction and place their bid – which involved sending Bitcoin to a unique Bitcoin address owned by Yuga.