- Quantum Cats NFTs surged past $10,000 each on Magic Eden’s secondary market, reflecting robust demand for digital art.
- Despite technical hiccups, Taproot Wizards project raised $13 million from Quantum Cats’ sold-out minting.
The NFT platform Magic Eden witnessed a historic event during this tumultuous week filled with technical turbulence in the minting process. The digital artworks known as Quantum Cats surpassed the $10,000 mark each on their first day of secondary trading.
Investors who swiftly acquired the Quantum Cats NFT-like images didn’t hesitate to sell them on Tuesday for more than double the initial price, thus demonstrating the growing interest in digital art on the blockchain.
The lowest price available for Quantum Cats on the NFT marketplace Magic Eden was 0.243 BTC ($10,481), compared to the fixed price of 0.1 BTC during the initial minting phase.
Magic Eden recorded an impressive trading volume of 115 BTC shortly after the distribution of the Quantum Cats, with 507 images still in play. Despite the technical issues experienced on the Taproot Wizards minting platform during this week, the project has managed to raise around $13 million with the sold-out sale of the Quantum Cats.
These results reflect the determination of buyers and mark an important event for Taproot Wizards, led by co-founders Udi Wertheimer and Eric Wall. The Ordinals project, launched by Casey Rodarmor in early 2023, has been at the forefront of the NFT trend on Bitcoin, enabling the minting and storage of NFTs on the Bitcoin blockchain.
Although Ethereum has been the focus in the NFT world, current attention is on the capabilities of Bitcoin, the oldest and largest blockchain by market capitalization.
