The Bitcoin-focused NFT project ‘Taproot Wizards‘ has successfully garnered $75 million in funding to “make Bitcoin magical again”.
On a joint mission to expand the functionalities of Bitcoin and Ordinals, Standard Crypto led the capital round alongside key crypto investors: Collider Ventures, UTXO Management, and StarkWare.
HOLD ON TO YOUR WIZARD HATS!
Today we are announcing a $7.5M seed round, led by @standardcrypto, to Make Bitcoin Magical Again
We broke the chain, we danced on stage, we took showers
We heard about bitcoin 10 years ago. And WE’RE HERE TO FIX IT
More in the thread below 🧙♂️ pic.twitter.com/xoNho6EKhs
— Taproot Wizards (@TaprootWizards) November 16, 2023
Equipping Bitcoin for a Flourishing Future
“Bullish on Bitcoin for a decade,” Taproot Wizards is best known for its distinctive NFT collection that features wizard characters, which reflects Bitcoin’s early days as “magic internet money”.
The project is at the forefront of promoting innovation for the Bitcoin protocol, enabling the funding round to bring together a top-tier team of Bitcoin developers to advance Bitcoin and Ordinals.
A primary focus of this initiative is to enhance technologies like Layer-2 rollups and zero-knowledge proofs alongside the 2021 Taproot upgrade to improve BTC’s security, privacy, and efficiency. Still, the project has already contributed open-source rollup code to support scaling efforts.
Furthermore, Taproot Wizards is working toward creating a comfortable, collaborative environment for Bitcoin developers, spurring them to test out new avenues on the blockchain network to enhance the coin’s versatility. In the meantime, Taproot Wizards will continue developing new Bitcoin applications — private payments, NFTs, decentralized identities, and smart contracts — with the aim of propelling Bitcoin’s evolution beyond being a digital asset.
With a skilled technical team and significant financial support, Taproot Wizards’ Bitcoin funding round is primed to advance the cryptocurrency, potentially introducing an exciting new chapter of utility.
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