- Taproot Wizards’ Bitcoin NFT collection Quantum Cats has doubled in price hours after listing on Magic Eden
- The cheapest NFT in the collections trades at 0.29 BTC as of the time of writing
- The rise in price comes despite the collection experiencing several technical problems during the minting phase
The much anticipated Bitcoin-based Quantum Cats NFT collection by Taproot Wizards was distributed to wallets and some of the inscriptions listed on Magic Eden’s Bitcoin Ordinals marketplace. Hours after listing, the cheapest inscription is changing hands at 0.29 BTC or roughly $12,500 up from the minting price of 0.1 BTC or around $4,300. Although the community was angered by the technical hiccups experienced during the minting process, the price rise may signal an initial interest from Bitcoin Ordinals’ collectors.
Quantum Cats Might Evolve?
According to Magic Eden, the collection has a floor price of approximately $12,500 (0.29 BTC) and a total trading volume of roughly $9 million (209.7 BTC) as of the time of writing.
The collection features 3,000 collectibles with the project disclosing on X (formerly Twitter) that all “Quantum Cats have been distributed to wallets.” Its creators noted that the cats “might evolve at any moment,” although they didn’t reveal more details about how this will happen.
you might be able to find some Quantum Cats available for adoption on magic eden: https://t.co/E2Gk2PiWTh
🚨🚨🚨 remember: your cat might EVOLVE at any moment. 🚨🚨🚨
if you list your cat, someone might snag it when it evolves, before you have a chance to react 🐱
— Quantum Cats (@QuantumCatsXYZ) February 6, 2024
Another post on X, the project disclosed that it refunded “19.3 BTC that were overpaid during the mint.”
A Honey Badger On Bitcoin Sells For $450,000
On January 30, the project postponed the mint for the second time due to technical issues. Taproot Wizards co-founder Udi Wertheimer said at the time the mint failed due to unforeseen challenges.
We disappointed you today. We had big plans for mint day and we didn’t live up to your expectations of us and to our expectations of ourselves.
I’m going to tell you more about what happened, but first, the important news:
To ensure the best minting experience… pic.twitter.com/Uk4NyUppWn
— Udi Wertheimer (@udiWertheimer) January 30, 2024
Although the arrival of the Bitcoin Ordinals project divided the Bitcoin community, Bitcoin NFTs are increasingly getting more attention than their counterparts on Ethereum and Solana. Recently, a pixelated avocado Bitcoin NFT sold for $100,000 while a honey badger inscribed on the blockchain changed hands for $450,000.
With Quantum Cats Bitcoin NFTs’ popularity at its initial stages, it’s to be seen how high the collection’s price and trading volume will go in coming days.