Taproot Wizards experienced a successful sale of its Bitcoin non-fungible token (NFT) collection, “Quantum Cats,” despite facing three delays due to technical issues last week.
Following the whitelist phase that resulted in the minting of 2,687 cat NFTs, the remaining 313 NFTs were swiftly sold during the public mint in just 2 seconds on February 5.
Each cat was priced at 0.1 BTC, approximately $4,300, leading to a total collection sale of around $12,900,000.
Throughout last week, delays in the minting phase, attributed to overwhelming demand and server capacity constraints, did generate frustration within the community but did not diminish the collection’s overall hype and popularity.
Taproot Wizards has a history of success, including embedding the largest block in Bitcoin’s 15-year history, featuring a 4MB wizard image in February 2023. Plus, in November 2023, the project secured $7.5 million in a seed round.
In a related success, artist and engineer Francisco Alarcon’s artwork titled “FAR for Taproot Wizards” indirectly benefited from the project. The artwork, recently sold at Sotheby’s “Natively Digital” Bitcoin-focused NFT auction, fetched $254,000, surpassing the high estimate by 12 times.
Bitcoin Ordinals, introduced in January 2023, witnessed various successful sales throughout the year, contributing to Bitcoin NFTs reaching an all-time high with record-breaking sales exceeding $881 million.
Notable instances include Yuga Labs’ TwelveFold NFT auction, which collected over $16 million, and Sotheby’s “BitcoinShrooms” NFT auction, surpassing expectations with a total of $450,850, where individual NFTs sold 5-8 times higher than estimated prices.
