The bitcoin-focused nft project’Primary root helpers‘ has successfully raised $75 million in funding to “make bitcoin magical again.”
In a joint mission to expand the functionalities of bitcoin and Ordinals, Standard crypto led the capital round together with key crypto investors: Collider Ventures, UTXO Management and StarkWare.
HOLD ON YOUR WIZARD HATS!
Today we announced a $7.5 million seed round, led by @cryptostandardto make bitcoin magical again
We broke the chain, we danced on stage, we took showers
We heard about bitcoin 10 years ago. AND WE ARE HERE TO FIX IT
More in the thread below pic.twitter.com/xoNho6EKhs
– Taproot Wizards (@TaprootWizards) November 16, 2023
Equipping bitcoin for a flourishing future
“Bull on bitcoin for a decade,” Taproot Wizards is best known for its distinctive nft collection featuring wizard characters, reflecting bitcoin‘s early days as “magical internet money.”
The project is at the forefront of promoting innovation for the bitcoin protocol, allowing the funding round to bring together a team of top-notch bitcoin developers to advance bitcoin and Ordinals.
A primary goal of this initiative is to improve technologies such as Layer 2 accumulators and zero-knowledge proofs along with the Taproot 2021 update to improve btc security, privacy, and efficiency. Still, the project has already contributed a cumulative open source code to support scaling efforts.
Additionally, Taproot Wizards is working to create a comfortable and collaborative environment for bitcoin developers, encouraging them to try new avenues on the blockchain network to improve the currency’s versatility. Meanwhile, Taproot Wizards will continue to develop new bitcoin applications (private payments, NFTs, decentralized identities, and smart contracts) with the goal of driving the evolution of bitcoin beyond being a digital asset.
With a capable technical team and significant financial support, Taproot Wizards’ bitcoin funding round is poised to advance the cryptocurrency, potentially ushering in an exciting new chapter of utility.
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*All financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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