TL;DR
- Taproot Wizards and “Quantum Cats”: Technical problems lead to the third postponement of the sale of NFTs in Bitcoin.
- Unexpected Demand: Taproot Wizards underestimates the demand for the “Quantum Cats,” with a price of 0.1 BTC each and a potential raise of $12 million.
- Controversy with Bitcoin Ordinals: Opinions divided in the Bitcoin community about the Bitcoin Ordinals protocol and its impact on the original objectives of the network.
Taproot Wizards, the project behind Bitcoin Ordinals, has experienced significant difficulties in launching its “Quantum Cats” collection as NFTs on the Bitcoin blockchain.
This setback adds to the growing attention around the integration of NFTs into the Bitcoin network and the repercussions on their original objectives.
In the initial attempt to sell around 3,000 “Quantum Cats” on Monday, the Taproot Wizards team ran into technical issues, resulting in the sale being suspended with a promise to resume 24 hours later.
However, things did not go as planned, and the team opted to postpone the sale until Thursday.
Unfortunately, on the eve of the resumption, they announced another delay, setting the new date for February 5.
This marks the third delay in the release of the Quantum Cats collection
The collection, made up of 3,000 cats, each with a fixed price of 0.1 BTC, could theoretically raise around $12 million, easily surpassing the $7.5 million raised by the company the previous year.
Taproot Wizards admitted to underestimating community demand for “Quantum Cats.”
Although they claim to have corrected the problems with the NFT creation site, they acknowledge that they need more time to perform additional tests and avoid the presence of unknown errors on the day of the tokens creation.
The team takes responsibility for the build site not performing as expected, acknowledging that they could have done a better job from the start.
The Bitcoin Ordinals protocol, introduced a year ago, has generated mixed opinions in the Bitcoin community.
Although some see it as an improvement on Bitcoin’s capabilities by allowing the creation of NFTs on its blockchain, others, called Bitcoin purists, consider that this creates unnecessary congestion on the network and diverts attention from Bitcoin’s original purpose as a peer-to-peer payment network.
Taproot Wizards difficulties with the release of “Quantum Cats” include technical problems, underestimation of demand, and multiple delays.
This incident reflects the broader debate within the Bitcoin community regarding the integration of NFTs and their impact on the network’s original goals.
