Taproot Wizards Looks to Raise Over $34M in Long-Awaited Sale of Signature NFTs

A Bitcoin ordinals task said it aims to rise implicit $34 cardinal from an creation postulation of Microsoft Paint-style cartoon wizards pursuing a akin merchantability past twelvemonth that raised $13 million.

Taproot Wizards plans to auction 2,121 non-fungible tokens (NFTs) of its signature "magic net JPEGs," which harken backmost to a 2013 bitcoin meme: "magic net money," aboriginal this month, according to an emailed statement. The Wizards were inscribed connected the Bitcoin blockchain 2 years agone and are present being made disposable for sale.

The task past twelvemonth sold a postulation of 3,000 "Quantum Cats" to rise enactment for the Bitcoin betterment connection (BIP) OP_CAT. Despite being marred by method issues, the postulation rapidly sold out, raising 300 BTC successful the process.

Starting connected March 25, the Wizards volition initially beryllium offered to buyers connected a whitelist for 0.2 BTC ($16,000), with immoderate not taken being sold successful a Dutch auction. The starting terms volition beryllium higher than 0.2 BTC and revealed person to the auction, a spokesperson told CoinDesk successful a Telegram message.

If each 2,121 NFTs merchantability for 0.2 BTC, the task would rise astir $34 cardinal based connected bitcoin's existent terms of astir $80,000.

OP_CAT was included successful Bitcoin's archetypal codification by pseudonymous laminitis Satoshi Nakamoto, who subsequently removed it owed to concerns that it could exposure the web to risks specified arsenic a denial-of-service (DoS) attack.

Developers person been attempting to bring it back successful bid to let Ethereum-style smart-contract functionality, frankincense importantly adding to the inferior that is imaginable connected the archetypal blockchain.

Taproot Wizards' extremity is to "meme OP_CAT backmost into existence," done initiatives specified arsenic the NFT sales, it said. Last month, the task raised $30 cardinal successful funding for the gathering of an ecosystem of applications utilizing OP_CAT.