Taproot Wizards Bitcoin NFTs Surge, Trading at Double Their Mint Price
Discover the record-breaking prices and high demand for Taproot Wizards' Quantum Cats NFTs, part of the Bitcoin Ordinals project on Magic Eden.
The world of Bitcoin Ordinals has once again been shaken up by the release of the latest digital collectibles from Taproot Wizards – the Quantum Cats NFTs. These unique images, have taken the Ordinals marketplace by storm with their record-breaking prices and high demand.
Despite facing technical issues during the week-long minting process, the Quantum Cats were still highly sought after by collectors. With prices exceeding $10,000 on their first day of secondary trading, it's safe to say that these feline-inspired NFTs have exceeded all expectations.
What Are Quantum Cats?
For those unfamiliar with the world of NFTs, Quantum Cats are digital images inscribed onto the Bitcoin blockchain. They are part of the larger Bitcoin Ordinals project created by Taproot Wizards and have quickly gained popularity in the NFT market.
Magic Eden, a popular NFT marketplace, reported a trading volume of 115 BTC within hours of the Quantum Cats being delivered to their original owners. The lowest listed price for these feline-inspired NFTs was 0.243 BTC or $10,481 on Tuesday – more than double their initial minting price.
Ongoing Sales and Technical Difficulties
Despite the original minting of 3,000 Quantum Cats selling out on Monday and generating a staggering $13 million in revenue, there are still 507 images listed for sale on Magic Eden. This ongoing success has exceeded the $7.5 million raised from investors last year and solidified Taproot Wizards' position as a leader in the NFT market.
However, the success of the Quantum Cats NFTs did not come without its challenges. The minting process on the Taproot Wizards website was plagued with technical difficulties, leading to frustrations and complaints from users on their Discord channel. This resulted in a temporary suspension and multiple postponements of the minting process.
Despite these initial roadblocks, the success and popularity of the Quantum Cats NFTs have shown that there is a growing interest in inscriptions on the Bitcoin blockchain. Taproot Wizards has capitalized on this trend by incorporating it into their unique NFTs, cementing their position as pioneers in the space.
Conclusion
The release of the Quantum Cats NFTs by Taproot Wizards has taken the NFT market by storm. With record-breaking prices and high demand, these feline-inspired images have solidified their position as highly sought after digital collectibles. Despite facing technical difficulties during the minting process, the ongoing success of these NFTs has shown that there is a growing interest in inscriptions on the Bitcoin blockchain, further establishing Taproot Wizards as leaders in the space.
