New York, NY (February 6, 2024): Investors are snapping up newly minted "Quantum Cats" NFTs on the Bitcoin blockchain, pushing their prices to double the initial sale price within days. This surge highlights the growing demand for digital art inscribed directly on the original blockchain.
Key Points:
- "Quantum Cats" Sell Out: Taproot Wizards' Bitcoin NFT collection sold all 3,000 NFTs at $10,481 each, exceeding expectations despite launch delays.
- Price Spike: Secondary market listings on Magic Eden show "Quantum Cats" trading for double the initial price, reaching upwards of $20,962.
- Total Revenue: Taproot Wizards generated approximately $13 million from the "Quantum Cats" sale, surpassing its $7.5 million fundraise.
- Bitcoin NFTs Gain Traction: This success underscores the burgeoning market for NFTs directly inscribed on the Bitcoin blockchain using the Ordinals protocol.
- Alternative to Ethereum: Ordinals offers an alternative to Ethereum for NFT enthusiasts, potentially expanding the market beyond platforms known for smart contracts.
Further Information:
- Technical issues initially plagued the launch, causing delays and frustration among potential buyers.
- Despite the hiccups, investor interest remained strong, with all NFTs selling out and secondary market prices skyrocketing.
- The success of "Quantum Cats" could further propel the adoption of Bitcoin-based NFTs and challenge the dominance of Ethereum in the NFT space.
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