Taproot Wizards raised $30 million to expand OP_CAT functionality on BTC

2025-02-05 03:19:47

Abstract generation in progress

According to The Block: Bitcoin Ordinals project Taproot Wizards is raising $30 million in a funding round led by Standard Crypto. The team is focused on advancing the OP_CAT ecosystem to expand the functionality of BTC.

According to Tuesday’s announcement, Taproot Wizards is conducting its first-round seed financing, raising funds similar to the previous $7.5 million financing, aimed at “making BTC magical again,” co-founder Udi Wertheimer told The Block.

The name Taproot Wizards is derived from the “BTC Wizard” meme, which was originally created in MS Paint, and is an early independent advertisement for “magic internet currency,” as well as related to the Taproot upgrade to expand BTC functionality.

This round of financing was led by early Taproot Wizards supporter Standard Crypto, with participation from Cyberfund and Collider Ventures.

Wertheimer and his Crypto Twitter companion Eric Wall co-founded Taproot Wizards in 2023. He pointed out that the project will use this new funding.

TAPROOT-6,29%

BTC-1,46%

OP-1,67%

CAT-4,51%

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