Investors
who
bought
the
freshly
minted
“Quantum
Cats”
NFT-like
images
from
the
Bitcoin
Ordinals
project
Taproot
Wizards
were
already
flipping
them
on
Tuesday
for
more
than
twice
the
initial
sales
price
–
in
a
sign
of
enduring
demand
for
digital
art
inscribed
onto
the
original
blockchain.
The
lowest
available
price
for
the
Quantum
Cats
listed
on
the
NFT
marketplace
Magic
Eden
was
0.243
BTC
($10,481)
on
Tuesday,
versus
the
fixed
price
of
0.1
BTC
each
in
the
primary
mint
that
concluded
Monday.
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.
That
was
despite
much
angst
over
the
past
week
as
the
Taproot
Wizards
minting
website
was
plagued
by
technical
issues,
causing
frustration
and
leading
to
widespread
complaints
on
the
project’s
Discord
channel.
A
suspension
of
the
process
on
the
first
day
was
followed
by
multiple
postponements.
This
week’s
results
showed
buyers
undeterred,
with
the
proceeds
well
exceeding
the
$7.5
million
that
the
Taproot
Wizards,
led
by
co-founders
Udi
Wertheimer
and
Eric
Wall,
raised
from
investors
last
year.
The
project
has
ridden
a
wave
of
enthusiasm
for
the
Ordinals
inscriptions,
sometimes
referred
to
as
“NFTs
on
Bitcoin.”
The
Ordinals
protocol
and
its
“inscriptions”
–
launched
in
early
2023
by
creator
Casey
Rodarmor
–
effectively
allows
NFTs
to
be
minted
and
stored
on
the
Bitcoin
blockchain.
Previous
waves
of
NFT
hype
were
focused
on
other
blockchains,
such
as
Ethereum,
that
have
historically
been
seen
as
more
programmable
than
Bitcoin,
which
is
the
oldest
blockchain
and
still
the
largest
by
market
capitalization.
Read
More:
Casey
Rodarmor:
The
Bitcoin
Artist