Taproot Wizards Aims to Raise $34 Million from NFT Auction

1 min

Taproot Wizards plans to raise over $34 million through an auction of 2,121 non-fungible tokens (NFTs) featuring cartoon wizards. This follows a previous successful sale of 3,000 "Quantum Cats" that raised 300 BTC.

NFT auction starts March 25, with initial sales at 0.2 BTC ($16,000) for whitelisted buyers
Unsold NFTs will enter a Dutch auction at a higher starting price
If all NFTs sell at 0.2 BTC, total revenue could reach around $34 million based on current Bitcoin prices
Project aims to revive OP_CAT functionality in Bitcoin for enhanced smart-contract capabilities
Recent funding of $30 million supports the development of applications utilizing OP_CAT

The Taproot Wizards initiative seeks to leverage the popularity of NFTs to promote Bitcoin's utility and features.