BTC Ecosystem|Raise $7.5 million to rebuild the "Wizard Village" and explain the construction plan of Taproot Wizards in detail

Original | Odaily

Author | Aurantium aurantium

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On November 16, Taproot Wizards, an Ordinals project, announced that it had raised $7.5 million, led by Standard Crypto and with participation from Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey, and Newman Capital, at an undisclosed valuation. According to reports, this round of funding will be used to rebuild Bitcoin's "wizarding village", symbolizing the desire to compete with major blockchains such as Ethereum and Solana.

The first Taproot Wizards were inscribed on the Bitcoin network on February 2, with founder Udi Wertheimer stating that "Mint has created the largest block and largest transaction in Bitcoin history."

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In August of this year, in response to the report that "Bitcoin Ordinals NFT trading volume has dropped by 98% since May", Eric Wall, one of the founders of Taproot Wizards, said: "I admit that Ordinals is a huge failure and am willing to double refund all those who purchased the Taproot Wizards project, can keep jpeg (no need to return NFTs), has opened private messages. Of course, this is more of an irony, but it also reveals the lukewarm situation of the Ordinals market in August.

Odaily will detail the past and present of Taproot Wizards and its subsequent development plans.

Taproot Wizards

Ten years ago

On February 19, 2013, the admin of the r/Bitcoin section of Reddit posted a post soliciting an image from the public to use as a promotional banner for the subreddits.

1 hour and 1 minute later, a user named Mavensbot posted an image of The Witcher, which quickly became the focus of the community's attention with its "abstract" style.

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On that day, the price of Bitcoin was only $29.6, and two months later, on April 10, it hit a record high of $266 in the first half of 2013 and a year-to-date high of $1,156 on November 30 of that year.

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Also in November 2013, the seventh episode of the seventeenth season of the American adult animated television series South Park appeared in a similar image to Mavensbot's "The Witcher".

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Big and small wizards

On February 2nd, Udi Wertheimer announced that it had inscribed Taproot Wizards' NFT collection, with a block size of 3.96 MB, approaching the maximum block limit of 4 MB.

The series is a second creation of the original image by Udi Wertheimer and Erica Wall (the brother who promised a refund above), and the co-developers also include Bitcoin mining company Luxor, which ignited the popularity of Ordinals to a certain extent. The series is called "The Great Wizard" and has no sales plans yet, having been whitelisted for the Little Wizard series.

On February 18th, the 10th anniversary of the Wizard's promotional image, mavensbot released Bitcoin Wizard's NFT collection, with a total of 1,337 pieces, dubbed "Little Wizard" by community users, and later issued a related token, $WZRD.

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"Wizard's Village" plan

WHEN TECH CRUNCH REPORTED ON THE FUNDING OF TAPROOT WIZARDS, TAPROOT WIZARDS SAID THAT THE FUNDING WOULD BE USED TO REBUILD BITCOIN'S WIZARD VILLAGE, BUT DID NOT ELABORATE, AS EXPLAINED IN BITCOIN MAGAZINE'S REPORT:

Udi Wertheimer, co-founder of Taproot Wizards, said, "We're looking for a bigger $7.5 million seed round because we feel that time is of the essence, and we've been bullish on Bitcoin for a decade, but we really believe there's never been a better time to invest in Bitcoin." ”

Taproot Wizards aims to assemble a strong development team to further develop tools and applications that leverage the full potential of the open-source protocol. The project is tasked with maximizing the potential of Taproot, an upgrade designed to enhance Bitcoin's privacy, security, and efficiency.

Wertheimer further stated, "We are focused on achieving the best breakthroughs in broader crypto research to advance Bitcoin and Ordinals, such as the open-source rollup work we shared a few months ago, and will use the funds to build a top-notch Bitcoin development team." ”

**The focus of Taproot Wizards is to nurture an ecosystem where developers can collaborate and create solutions that harness the power of Bitcoin. The project aims to open up new applications, improve scalability, and strengthen Bitcoin's security infrastructure. **

"Not only do we find Bitcoin NFTs very attractive as assets, we also believe that the Ordinals movement has the opportunity to rekindle Bitcoin's innovation on a broader scale – which we believe is necessary for Bitcoin to realize its full potential, and while managing a significant NFT collection and its community is valuable in its own right, we believe that Taproot Wizards," said Alok Vasudev, co-founder of Standard Crypto, who led the pitch There is a greater opportunity to leverage its brand as a distribution channel for the new Bitcoin infrastructure. ”

As the Bitcoin industry continues to grow, Taproot Wizards strives to encourage builders to explore new possibilities within the Bitcoin space, using Taproot upgrades as a cornerstone for innovation and growth.