Wizard NFT Project Taproot Wizards Raises $7.5 Million, Led by Standard Crypto

The Ordinals project Taproot Wizards announced that it has secured $7.5 million in funding. This round was led by Standard Crypto and saw participation from other investors such as Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey, and Newman Capital. The valuation following this round, however, remains undisclosed. The funds will be used to rebuild Bitcoin’s “Wizard Village", which symbolizes the project's ambition to compete with major blockchains like Ethereum and Solana. Taproot Wizards aims to rekindle the spirit of building and innovating on the Bitcoin blockchain. The project launched a limited issuance of 2,121 Wizard NFTs, a number that represents the total Bitcoin supply of 21 million. At present, less than 1% of Taproot Wizards' Ordinals have been minted. Meltem Demirors, chief investment officer at CoinShares, compares Ordinals to cartoon characters, adding they can be weaved into stories and used in other environments. Spence, meanwhile, mentions plans to mint a new Ordinal every day until reaching the total limit, emulating Bitcoin's automated halving. Project Lead Udi Wertheimer stated that their release cadence has remained public to avoid hype. They are actively searching for participants who are genuinely invested in the mission rather than just focusing on JPEGs. This approach is an effort to sustain the mission's focus on the Bitcoin ecosystem's growth and development.