Yuga Labs’ TwelveFold Bitcoin (BTC) NFT top 288 bids are led by a 2 BTC bid (around $50,000), with the lowest being 0.111222 BTC ($250) as of press time.

Yuga Labs’ auction process requires participants to deposit their BTC into an address provided by the company.

The NFT company asked participants to provide a separate BTC address to receive their NFTs if they win the auction, adding that it would refund those with unsuccessful bids.

Bitcoin Ordinals NFT, creator Casey Rodarmor, said Yuga Labs’ method was a “degenerate bullshit.” Rodarmor threatened to wash his hands off the entity if it repeated the same thing.