Taproot Wizards Successfully Launches Its First NFT Collection

Taproot Wizards swiftly sells out its inaugural NFT collection, "Quantum Cats," with an impressive 3,000 NFTs snapped up.
Taproot Wizards, a pioneering project in the Bitcoin Ordinals trend, has finally successfully launched its first NFT collection, "Quantum Cats," after three postponements.

the Quantum Cats have sold out!

313 cats sold out within 2 seconds during the public mint!

distribution of the cats to wallets is planned for tomorrow, alongside refunds for any overpayment.

thank you for your incredible support this past few weeks 🧡

GMEOW pic.twitter.com/mo0SXrNT8x
— Quantum Cats (@QuantumCatsXYZ) February 5, 2024

3,000 NFTs found new owners during yesterday's (05/02) sale. Each NFT was priced at a fixed rate of 0.1 BTC (approximately 4,265 USD), generating nearly 13 million USD in revenue for Taproot Wizards.

Where did this achievement come from?

The majority of NFTs were acquired by investors on the whitelist, granting them preferential purchase rights before the public sale. The remaining 313 NFTs were quickly sold out within the first two seconds of the public mint opening.
This achievement surpasses the amount of capital raised by Taproot Wizards in November last year. At that time, amidst the resurgence of the Bitcoin Ordinals trend, Taproot Wizards managed to raise over 7.5 million USD from various prominent crypto funds, including Standard Crypto, Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey, and Newman Capital.
Quantum Cats was initially launched last Monday but was temporarily halted due to technical issues preventing buyers from completing transactions. This situation led to disappointment and pressure on the project. Consequently, the project rescheduled the NFT release twice to allow additional time for troubleshooting.
Related: NFT Artist Ryder Ripps Ordered to Pay $9M to Yuga Labs
Taproot Wizards is one of the early projects leading the Bitcoin Ordinals trend, which emerged at the beginning of 2023. Taproot Wizards is renowned for its collection of NFTs on Bitcoin, featuring the iconic "Bitcoin wizard" meme that first appeared in 2013.
While the Bitcoin community continues to debate the potential implications of the increasing NFT minting activity, notably causing network congestion and surging transaction fees, many experts believe this trend is bringing renewed energy to the world's oldest blockchain.