Bitcoin-focused Taproot Wizards raises $7.5 million in seed funding to "make bitcoin magical again"

Taproot Wizards, a project focused on Bitcoin's Ordinals protocol, has raised $7.5 million in seed funding to bring back the "magic" of Bitcoin. The investment was led by Standard Crypto, a venture capital firm focused on cryptocurrency, and included contributions from other firms. Taproot Wizards offers a collection of Microsoft Paint images of wizards, inspired by a 2013 Bitcoin meme, and uses the Ordinals protocol to create non-fungible tokens on the Bitcoin network. While the protocol has faced criticism for congesting the network, the success of Taproot Wizards' funding round suggests it has plenty of supporters.