2024-01-14 19:03:16
Taproot Wizards, which capitalized on last year’s Bitcoin Ordinals craze to raise $7.5 million, is now gearing up for its first sale in the company’s history.
Despite the fact that the Ordinals protocol, which was introduced in early 2023 and has been much criticized since then, further increased Bitcoin’s popularity to some extent, it resulted in mempool overload and higher fees at the same time.
The etching project that sprung up during last year’s Ordinals frenzy, the Taproot Wizards is offering a collection for sale for the first time. Called Quantum Cats, the collection contains a total of 3,333 feline NFTs created in honor of a Bitcoin development proposal known as OP_CAT.
Ordinals earned miners nearly $10 million in a single day
It is worth noting that due to the large number of stuck transactions and high fees caused by Bitcoin Ordinals, many Bitcoin maximalists have proposed various measures to block them, arguing that the network should be reserved for transactions only, however some have compared these efforts to censorship.
In any case, miners have done exceptionally well with Ordinals and the increased rewards that come with it: as reported, on December 16, 2023, miners collected nearly $10 million in rewards in just one day.
By the way, Dan Held, Marketing Director of Taproot Wizards, said that this is the first collection that the company is offering for sale, as the first collection they mentioned was Taproot Wizards, but it was not offered for sale.
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