Ethereum

Vision

Reddit

Impact

Standard

<p class="is-style-lead">Bitcoin’s Taproot Wizards project received a fresh $7.5 million investment from Standard Crypto to transform the blockchain ecosystem and compete with major players like Ethereum and Solana.</p> 
<p>The Taproot Wizards project, known for its <a href="https://crypto.news/price/bitcoin/">Bitcoin</a> Ordinals initiative, has successfully raised $7.5 million in <a href="https://twitter.com/udiWertheimer/status/1725225788239220777" target="_blank" rel="noopener">funding</a>, spearheaded by VC firm Standard Crypto. Founded by Udi Wertheimer and Eric Wall, Taproot Wizards draws inspiration from a classic Bitcoin wizard meme that circulated on Reddit over 10 years ago. The project aims to reshape perceptions of the Bitcoin blockchain.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">"We’ve always admired their s̶h̶i̶t̶p̶o̶s̶t̶i̶n̶g̶ ̶s̶k̶i̶l̶l̶ marketing instincts but over the past months we’ve developed a deep respect for their technical acumen and ability. The revolution is in capable hands"<br><br>thanks for joining us <a href="https://twitter.com/standardcrypto?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@standardcrypto</a>!<a href="https://t.co/U007hnhZIZ" target="_blank">https://t.co/U007hnhZIZ</a></p>— Udi Wertheimer (@udiWertheimer) <a href="https://twitter.com/udiWertheimer/status/1725225788239220777?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 16, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The investment attracted a diverse group of backers, including Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey and Newman Capital. This influx of capital is earmarked for the development of what the founders term a “wizard village,” symbolizing a commitment to rival leading blockchains such as Ethereum and Solana. Eric Wall emphasized their goal to pioneer a fresh approach to Bitcoin engagement.</p> 
<p> You might also like: <a href="https://crypto.news/tether-to-become-a-bitcoin-miner-with-a-500m-investment-in-2024/"> Tether to become a Bitcoin miner with a $500m investment in 2024 </a> </p> 
<h2 class="wp-block-heading" id="investment-impact-and-future-vision">Investment Impact and Future Vision</h2> 
<p>Standard Crypto co-founder Alok Vasudev sees immense potential in Taproot Wizards, and believes it could become similar to the Bored Ape Yacht Club, as revealed in an interview with <a href="https://techcrunch.com/2023/11/16/taproot-wizards-bitcoin-ordinals/?guce_referrer=aHR0cHM6Ly90LmNvLw&amp;guce_referrer_sig=AQAAAMzgb9zaApblK1otGGvTm5IQr6y518txocJ4rwZb9PU9QB4bYM5_eGYbgCyTzzItZXA8Pq9O2tte0wcJEae6ZK6i1j1ZRPFoOgrNvCYV2-77dEyW8TYQbo0DRsPudQHNJmgbyIkXlNLRrceT-J2rKC5RaTNDNUdlAY2nb4bkfeZa&amp;guccounter=2" target="_blank" rel="noopener">TechCrunch</a>. Vasudev envisions opportunities beyond brand expansion, including the development of a dynamic infrastructure within the Bitcoin ecosystem. Standard Crypto aims to be an active participant in this evolution, moving beyond merely overseeing an NFT collection.</p> 
<p>Taproot Wizards has a unique collection of 2,121 wizards, mirroring the total Bitcoin supply of 21 million. To date, 2106 of these digital creations, representing 99.3% of the total, have been inscribed. However, only 20 of these have been released. The slow release strategy, according to Wertheimer, is deliberate, aiming to sustain long-term interest and attract individuals committed to their mission, rather than fleeting trends.</p> 
<p> Read more: <a href="https://crypto.news/coinshares-eyes-acquisition-of-valkyrie-funds-to-expand-into-u-s-crypto-etf-market/"> CoinShares eyes acquisition of Valkyrie Funds to expand into U.S. crypto ETF market </a> </p>

Bitcoin’s Taproot Wizards secures $7.5m funding from Standard Crypto

Table of Contents

crypto.news

Other articles published on Nov 16, 2023

HashQuark Teams Up with SSV Network for Ethereum Validator Decentralization

Bitcoin (BTC) Price Analysis: Roadblocked Below 38000 Again – 17 November 2023

Enjin Blockchain “Triple Migration” Successful; 51% Complete in First 60 Days

Singapore’s MAS Launches Five New Pilots to Accelerate Digital Asset Adoption in Project Guardian

Google Opens the Gates, Granting Teens Access to Bard with Safeguards in Place

Grayscale’s strategy rocks crypto ETFs: SEC in a tight spot

Join our free newsletter for daily crypto updates!