Taproot Wizards’ New Bitcoin NFTs Double in Trading Value

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Investors who purchased the newly released “Quantum Cats” NFT-style images from the Bitcoin Ordinals project Taproot Wizards were already reselling them on Tuesday at more than double the initial purchase price, indicating a sustained interest in do dedo art inscribed on the original blockchain.

On Tuesday, the lowest price for Quantum Cats listed on the NFT marketplace Magic Eden was 0.243 BTC ($10,481), compared to the fixed price of 0.1 BTC each during the primary mint that ended on Monday.

This week’s outcomes have demonstrated continued interest from buyers, surpassing the $7.5 million raised by the Taproot Wizards team, led by Udi Wertheimer and Eric Wall, from investors last year.

According to Magic Eden, 115 BTC worth of trading volume had transpired within hours after the Quantum Cats were delivered to their original owners. Some 507 of the images were still listed for sale.

The original minting of 3,000 Quantum Cats closed on Monday, with the series selling out – theoretically bringing in about $13 million of revenue for the Taproot Wizards project from its debut collection.

The project has utilized the growing excitement surrounding the Ordinals’ inscriptions, often compared to “NFTs on Bitcoin.”

At the beginning of 2023, Casey Rodarmor unveiled the Ordinals protocol, enabling the generation and preservation of NFTs directly within the Bitcoin blockchain.

Also Read: Taproot Wizards Blend Bitcoin And Art in Quantum Cats

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