Primary root helpersa bitcoin Ordinals project focused on improving the capabilities of bitcoin, has secured $7.5 million in funding to form a team of top developers to develop bitcoin.
The investment round was led bycrypto Standardwith Geometry, Collider Ventures, StarkWare, UTXO Management, bitcoin Frontier Fund, Masterkey and Newman Capital also participating in the raise.
“We opted for a larger seed round of $7.5 million because we felt time was of the essence,” said Taproot Wizards co-founder Udi Wertheimer. “We’ve been bullish on bitcoin for a decade, but we truly believe the best time to build bitcoin is now.”
Taproot Wizards aims to assemble a strong team of developers to continue developing tools and applications that leverage the full potential of the open source protocol. The project’s mission revolves around maximizing the potential of Taproot, an upgrade designed to improve the privacy, security and efficiency of bitcoin.
“We are focusing on adopting the best advances in broader cryptographic research to advance bitcoin and ordinals, for example the open source cumulative work we shared a couple of months ago, and we will use this funding to build a team of the top”. top-notch bitcoin builders,” Wertheimer continued.
Taproot Wizards’ focus lies on fostering an ecosystem where developers can collaborate and create solutions that harness the power of bitcoin. The project aims to pioneer novel 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 reignite bitcoin innovation much more broadly, which we believe is necessary for bitcoin to reach its full potential.” said Alok Vasudev, co-founder of Standard crypto. “While stewardship of a major nft collection and its community can be quite valuable on its own, we believe Taproot Wizards has an even greater opportunity to leverage its brand as a distribution channel for new bitcoin infrastructure.”
As the bitcoin industry continues to evolve, Taproot Wizards strives to encourage builders to push the limits to unlock new possibilities within the bitcoin realm, leveraging the Taproot upgrade as a cornerstone for innovation and development.
Disclaimer: UTXO Management’s parent company, btc Inc., is also the parent company of bitcoin Magazine.
