The world of NFTs has witnessed a remarkable development with the introduction of the ‘Quantum Cats’ collection on the Bitcoin blockchain. Developed by Taproot Wizards, a name associated with the Ordinals protocol, this collection pays homage to the foundational code crafted by Bitcoin’s enigmatic creator, Satoshi Nakamoto.
The ‘Quantum Cats’ series, comprising 3,333 cat images, is a prime example of innovation, as it has been minted utilizing Ordinals Inscriptions, a process that embeds data directly on the blockchain. This approach, referred to as ‘Evolving Inscriptions’, involved an investment of $66,000 and utilized 10MB of encrypted on-chain data - an impressive feat considering the 1MB capacity of a single Bitcoin block.
Adding to its allure, a special edition from this series named ‘Genesis Cat’, crafted by the digital artist FAR, is currently up for auction at the prestigious Sotheby’s, from now until January 22. Since the launch of the Ordinals protocol last January, over 50 million such inscriptions have been minted, encompassing a diverse range of content including text, images, videos, meme coins, and even video games.
The momentum behind Taproot Wizards has been further bolstered by a significant funding round in November, where they raised $7.5 million, led by the venture capital firm Standard Crypto. This infusion of capital underscores the growing interest and investment in the NFT and blockchain space.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
