Quick take:
- Taproot Wizards planned to sell 3,000 Quantum Cats NFTs.
- The company said it managed to sell 30% of the NFTs.
- Minting resumes on Tuesday at 12:00 pm-2:00 pm ET for the whitelist, with public mint kicking off at 3:00 pm ET.
Taproot Wizards on Monday postponed the much-awaited mint for its Quantum Cats NFT Collection, citing technical issues. The Bitcoin-based project planned to sell 3,000 NFTs for 0.1 BTC apiece (~$4,321).
The minting began with a 2-hour whitelist before technical issues forced the process to be halted with 30% of the Cats purchased and paid for. The company has since rescheduled the whitelist minting to January 30, 2024, starting 12:00 PM to 2:00 PM, while the public mint kicks off at 3:00 PM.
At the current Bitcoin price of about $43,213, the collection would have fetched $12.96 million after inscriptions.
Taproot Wizards has been one of the most exciting Ordinals projects, which led to high expectations for the Quantum Cats NFT collection. In a post shared by the Quantum Cats account on X, taproot Wizards took full responsibility for the bad experience and promised those who paid on Monday they would receive their Cats on Tuesday, while the whitelists who couldn’t mint also got a second chance.
“There’s been an incredible demand for the cats today, and our servers simply couldn’t handle the amount of people who were trying to mint,” reads the post on X. “This is on us, and we’re truly sorry for the bad experience.”
This drawback comes barely two and a half months after Taproot Wizards raised a $7.5 million funding round led by Standard Crypto. At the time Taproot stated it wanted to “bring back magic to Bitcoin” by promoting the culture of building on the blockchain.
Co-founded by Udi Wertheimer and Eric Wall Taproot Wizards’ main project features 2,121 Wizards. Of those, 2,106 wizards have been inscribed with less than 1%, 20 Taproot Wizards distributed.
The company is using a slow-phased distribution model to keep the hype on, according to Wertheimer, who told TechCrunch in November last year, that the project is interested in finding “ people with a mission, not those focused on JPEGs.”
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