Taproot Wizards successfully launched its first NFT collection, generating $13 million in revenue

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The 3,000 NFTs from Taproot Wizards’ “Quantum Cats” collection quickly sold out yesterday.

Taproot Wizards, a pioneering project in the Bitcoin Ordinals trend, finally successfully launched its first NFT collection, “Quantum Cats,” after three postponements. The 3,000 NFTs found new owners at yesterday’s (05/02) launch event. Each NFT was priced at a fixed rate of 0.1 BTC (4,265 USD), bringing in nearly 13 million USD in revenue for Taproot Wizards.

Taproot Wizards mở bán thành công bộ NFT đầu tiên

Most of the NFTs were acquired by investors on the whitelist, meaning those who had the privilege of purchasing at a discounted price before the wide-scale release. The remaining 313 NFTs quickly sold out within the first two seconds of the public mint opening.

This achievement surpasses the amount of capital Taproot Wizards raised back 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 several prominent crypto funds, such as Standard Crypto, Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey, and Newman Capital.

The Quantum Cats collection was initially launched two weeks ago on a Monday but was halted due to technical issues that prevented buyers from completing transactions. This situation caused disappointment and pressure on the project. Therefore, the project postponed the NFT release schedule twice more to allow additional time to address the issue.

Taproot Wizards is one of the pioneering projects in the Bitcoin Ordinals trend, which emerged in early 2023. Taproot Wizards is renowned for its collection of NFTs on Bitcoin, featuring the dominant meme “Bitcoin wizard,” which has been around since 2013.

While the Bitcoin community is still debating the potential consequences of the increasing NFT minting activity, which includes network congestion and soaring transaction fees, many experts believe this trend is bringing new energy to the world’s oldest blockchain.