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Taproot Wizards Sells “Quantum Cats” Bitcoin NFTs After Tech Delays
Bitcoin Ordinals Taproot Wizards Project Sees Strong Support for Its Inaugural Launch”Quantum Cats“ Digital art sold Monday, despite major technical issues that delayed scheduled minting three times last week.
All 3,000 NFT-like collectibles in the series were sold at the end of a public minting on Monday, at a fixed price of 0.1 BTC ($4,265) each, for a total revenue of nearly $13 million.
These revenues were easily exceeded the $7.5 million Taproot Wizards raised last year from investors, amid a wave of enthusiasm for subscriptions to Ordinals, sometimes referred to as “Bitcoin NFTs.” According to the team, most of the images were sold to authorized investors who were granted access during an exclusive five-hour purchasing window on Monday, and then 313 of them sold out during the first two seconds of public minting .
The sale of Quantum Cats began last Monday, but it was suspended due to technical problems this prevented shoppers from completing their purchases, causing frustration and leading to widespread complaints on a Discord channel for the project.
Based on the results, collectors – or speculators – appear not to have been deterred by the inauspicious start.
“We knew demand was high,” Wertheimer told CoinDesk in a Telegram chat on Monday. “We are simply pleased to be able to provide a seamless experience to our community today.”
The Ordinals protocol and its “subscriptions” – launched in early 2023 by the creator Casey Rodarmor – actually allows you to mint and store NFTs on the Bitcoin blockchain.
While the Bitcoin community is somewhat divided on the possible ramifications Because of the surge in minting activity, which has at times created congestion on the network and driven up fees, many cryptocurrency experts say the trend has brought a newfound energy to the pace of development of the oldest original blockchain.
UPDATE (11:55 PM UTC): Adds details from the public mint, including final sale amounts.