Taproot Wizards Successfully Launches First NFT Collection, Raises $13 Million

aproot Wizards, leading the trend of Bitcoin Ordinals, has finally successfully launched its first NFT collection, "Quantum Cats," after three delays.

Taproot Wizards, the pioneering project behind the Bitcoin Ordinals trend, has successfully launched its inaugural NFT collection "Quantum Cats." The sale, which took place yesterday (05/02), saw all 3,000 NFTs swiftly sold out. Each NFT was priced at a fixed rate of 0.1 BTC ($4,265), generating nearly $13 million in revenue for Taproot Wizards.

Most of the NFTs were acquired by investors on the whitelist, granting them early access with discounted prices before the public sale. The remaining 313 NFTs sold out within the first two seconds of the public mint.

This achievement surpasses the funding Taproot Wizards raised in November last year, amid the resurgence of interest in Bitcoin Ordinals. At that time, Taproot Wizards secured over $7.5 million from prominent crypto funds including Standard Crypto, Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey, and Newman Capital.

Quantum Cats was initially scheduled for release the previous Monday but faced technical issues that disrupted transactions, causing disappointment and pressure for the project. As a result, the project postponed the NFT launch twice to ensure issues were resolved.

Taproot Wizards is among the first projects leading the Bitcoin Ordinals trend, which gained prominence since early 2023. Known for its collection of Bitcoin-themed NFTs featuring the iconic "Bitcoin wizard" meme since 2013.

Despite ongoing debates within the Bitcoin community regarding the potential implications of increasing NFT minting activities, such as network congestion and rising transaction fees, many experts believe this trend is injecting new energy into the world's oldest blockchain.