Taproot Wizards Looks to Raise Over $34M in Long-Awaited Sale of Signature NFTs
A Bitcoin ordinals challenge stated it goals to lift over $34 million from an artwork assortment of Microsoft Paint-style cartoon wizards following an identical sale final 12 months that raised $13 million.
Taproot Wizards plans to public sale 2,121 non-fungible tokens (NFTs) of its signature “magic web JPEGs,” which harken again to a 2013 bitcoin meme: “magic web cash,” later this month, in accordance with an emailed assertion. The Wizards had been inscribed on the Bitcoin blockchain two years in the past and are actually being made out there on the market.
The challenge final 12 months offered a group of three,000 “Quantum Cats” to lift help for the Bitcoin enchancment proposal (BIP) OP_CAT. Regardless of being marred by technical points, the gathering rapidly offered out, elevating 300 BTC within the course of.
Beginning on March 25, the Wizards will initially be supplied to patrons on a whitelist for 0.2 BTC ($16,000), with any not taken being offered in a Dutch public sale. The beginning value shall be larger than 0.2 BTC and revealed nearer to the public sale, a spokesperson instructed CoinDesk in a Telegram message.
If all 2,121 NFTs promote for 0.2 BTC, the challenge would elevate round $34 million based mostly on bitcoin’s present value of round $80,000.
OP_CAT was included in Bitcoin’s unique code by pseudonymous founder Satoshi Nakamoto, who subsequently eliminated it attributable to issues that it might expose the community to dangers reminiscent of a denial-of-service (DoS) assault.
Builders have been trying to carry it again with a view to enable Ethereum-style smart-contract performance, thus considerably including to the utility that’s doable on the unique blockchain.
Taproot Wizards’ aim is to “meme OP_CAT again into existence,” via initiatives such because the NFT gross sales, it stated. Final month, the challenge raised $30 million in funding for the constructing of an ecosystem of functions utilizing OP_CAT.
