Taproot Wizards, a line of NFT-like collectibles created on the Bitcoin protocol Ordinals, announced Thursday they raised $7.5 million in a funding round led by venture capital firm Standard Crypto. The funds will be used to attract “elite Bitcoin talent” and close the “gap that’s opened up between Bitcoin and the rest of the crypto ecosystem”, according to co-founder Udi Wertheimer. After Binance listed a token on its platform using Ordinals, trading volume for Ordinals-based assets surged to a six-month high. Taproots Wizards’ $7.5 million funding round included participation from Bitcoin Frontier Fund, UTXO Management, Newman Capital, Geometry, Collider Ventures, StarkWare, Masterkey, and other investors. Standard Crypto co-founder Alok Vasudev believes Ordinals has “unleashed this kind of pent up energy”, and that wizards are “flooding into the blockchain as a result”. This is good news for the Bitcoin community, as it is a sign of progress in developing the Bitcoin protocol. #Crypto #Bitcoin #Funding #Ordinals #TaprootWizards
You can read more about this topic here: Decrypt: How Taproot Wizards Plan to ‘Finally Move Bitcoin Forward’
