Massive Frenzy Unleashed: Taproot Wizards' Bitcoin NFT Sale Rakes in Staggering $13M

Despite multiple tech hiccups, Taproot Wizards' "Quantum Cats" NFT collection sells out, generating astronomical revenue.

In a dazzling spectacle, Taproot Wizards' groundbreaking Bitcoin NFT project, "Quantum Cats," achieved a remarkable feat by selling out its entire collection of 3,000 digital-art pieces. The public mint, plagued by severe technical glitches causing multiple delays throughout the past week, concluded with each piece fetching a fixed price of 0.1 BTC ($4,265), resulting in an astounding total revenue of nearly $13 million.

The overwhelming success of this sale surpassed the $7.5 million previously raised by Taproot Wizards from investors last year. The project, known for its Ordinals inscriptions often dubbed "NFTs on Bitcoin," witnessed the majority of sales to whitelisted investors during an exclusive five-hour window. Additionally, a staggering 313 pieces were swiftly claimed within the first two seconds of the public mint.

Despite the initial setback and frustrations voiced on the project's Discord channel, collectors and speculators displayed unwavering enthusiasm, highlighting the resilience of the community.

Taproot Wizards, helmed by co-founders Udi Wertheimer and Eric Wall, addressed the technical challenges with transparency, opting to delay the mint twice for additional testing. The successful outcome indicates that the demand for the project's offerings remains robust.

The Ordinals protocol, introduced in early 2023 by creator Casey Rodarmor, enables the minting and storage of NFTs directly on the Bitcoin blockchain. While the surge in minting activity on the Bitcoin network has sparked debates within the community, the resounding success of Taproot Wizards' "Quantum Cats" demonstrates the vitality and innovation revitalizing the world's oldest blockchain. Stay tuned for more developments as the Bitcoin NFT landscape continues to evolve.

(Photo Source / Traproot Wizards)