According to an official announcement, the well-known Bitcoin Ordinals project Taproot Wizards has raised a $7.5 million seed fund led by the cryptocurrency venture firm Standard Crypto. Other participants include Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey, and Newman Capital.
Co-founder of Taproot Wizards, Eric Wall, stated that the money will be used to rebuild the “Wizard Village” of Bitcoin, symbolizing the ecosystem’s desire to compete with other major blockchains such as Ethereum and Solana.
Alok Vasudev, co-founder of Standard Crypto, pointed out that this investment has similar potential to the investment made by Yuga Labs in BAYC. In terms of branding, Taproot Wizards has a lot to offer and can launch other series under this brand. In addition, Taproot Wizards also has the opportunity to provide some interesting infrastructure for the ecosystem, bringing more vitality to the Bitcoin ecosystem.
Another co-founder of Taproot Wizards, Udi Wertheimer, stated that the limited mint of Taproot Wizards is set at 2,121, paying tribute to Bitcoin’s total supply of 21 million. Out of this total, 2,106 (or 99.3%) have been minted, but less than 1% (only 20) have been distributed so far. Udi Wertheimer mentioned that they will not disclose the specific issuance pace as they do not want to create hype that quickly fades away.