Taproot Wizards raises $7.5M for their Ordinals Project

[ImThour]

https://techcrunch.com/2023/11/16/taproot-wizards-bitcoin-ordinals/


Taproot Wizards, an Ordinals project that was inspired by the original Bitcoin wizard Reddit meme from a decade ago has raised $7.5 million in a round led by Standard Crypto, Taproot Wizards co-founders Udi Wertheimer and Eric Wall shared exclusively with TechCrunch+. They declined to disclose a valuation.

Co-founder Wertheimer said, “We’ve been in Bitcoin for over a decade. We have these memories of how Bitcoin was. It was very experimental, but it changed,”.

What do you guys think about their NFT project? It's similar to Apes from Yuga LABS.

[moneystery]

whatever the form of NFT, whether via the bitcoin network or erc-20, the value will decrease all the same. this is possible because the economics of NFT do not exist, they only depend on market demand and cannot be used for transactions like bitcoin or other coins.

moreover in recent times the presence of ordinals on the bitcoin network has been rejected by many bitcoin users because they cause high fees and make the network congested. so its popularity is limited and only certain communities accept its presence, and that means the sustainability of this ordinal is not high and its value will decrease over time.

[buwaytress]

So they had these memories of Bitcoin and thought this was the best way to celebrate or honour those memories?

Sait it before, I have no problems with people using Bitcoin for whatever they want, if the rules allow, but I guess I struggle to understand how they were inspired by Bitcoin's early experiments to result in this.

Guess that's why I'll always be a normie.

[Faisal2202]

but I guess I struggle to understand how they were inspired by Bitcoin's early experiments to result in this.

I guess it is all about money, maybe they meant by experiments to give BTC a try and earn money out of it. Just like this metaverse, they are planning to bring where NFTs will be shared among those who will show their love towards them like the videos of wearing wizards' outfits or tattoos, etc.

Anyway, the amount they have raised is really a lot, I don't know if that amount is really needed to build a metaverse like Apes from Yuga LABS well as a matter of fact Yuga Labs raised around $450 million, and now they worth more than $4 billion dollars.

If they succeed to start this initiative then I don't think the fee prices are getting any low.

[avikz]

Ah! Crap! Not anymore! I am sure majority of the bitcoin users do not want to see such craps coming into the Bitcoin network. You have matic network, ETH network to do all these nonsense activities. It will be great if Bitcoin network can be kept ordinal free.

Also, all the best to the investors of 7.5 Million USD who still believes in NFT. Lol!

[digaran]

So they had these memories of Bitcoin and thought this was the best way to celebrate or honour those memories?

Sait it before, I have no problems with people using Bitcoin for whatever they want, if the rules allow, but I guess I struggle to understand how they were inspired by Bitcoin's early experiments to result in this.

Guess that's why I'll always be a normie.

Back then people only could hack exchanges, and scam gullible and unsuspected users with lucrative garbage coins and ICOs, now indeed everything has changed, ICO scam, exchange theft is no longer profitable because community has become more vigilant, but NFT, ordinals are new with a lot of new opportunities, even miners now know how to scam, e.g, include mostly spam which costs near to nothing and bump the fees to get 5-10x total fees. Imagine a naked girl on a bed in the middle of an square, nobody would dare to touch her because law enforcements are nearby, right? Now what happens if the law enforcement officers lose control and jump on her first? Lol (rip).

But if her parents were competent and God fearing, they would never have allowed her to be used that way by teaching her how to cover her body etc.

LE officers = miners.
Pedestrians = could be any one in this community.
The naked girl = Bitcoin.
Her parents = developers.
😉

[PX-Z]

"Make it magical again" How bitcoin will become magical again having those large fees. Too many BIP has been made and has been approved within years to make the fees decrease by any means and yet, there are people with "over a decade of experience" just to invalidate those results and now we are struggling again for fees just like before the segwit years.

[oktana]

Wow! That’s a lot of money. I’ve never heard this name before though. However, if they could convince investors and get up to $7 million, it better be worth it. If you check, you'll figure that the only thing that happened with NFTs is reduced hype. At first, everyone was loud about it, new projects were built based on NFTs, and many other developments happened. For me, I still believe that NFTs (and digital real estate aka Metaverse) are not dead, though they could do better with some improvements or changes, after all, people still invest in them anyway.

[o48o]

Ah! Crap! Not anymore! I am sure majority of the bitcoin users do not want to see such craps coming into the Bitcoin network. You have matic network, ETH network to do all these nonsense activities. It will be great if Bitcoin network can be kept ordinal free.

Also, all the best to the investors of 7.5 Million USD who still believes in NFT. Lol!

Isn't that the whole point of crypto, that people have freedom to do stuff like this. The pointless crap is the living statement of it and natural causation of freedom.
Whole crypto field never goes as planned, as with total freedom comes unpredictability. Only thing you can predict is that people will use it in any way they please.
People who i don't like, are constantly using it to fund themselves for example. I can't change that and that's he thing that makes them different and valuable.
It's the whole essence and beauty of cryptocurrency platforms in the first place. Freedom to do crap as well as anything else.

[avikz]

Ah! Crap! Not anymore! I am sure majority of the bitcoin users do not want to see such craps coming into the Bitcoin network. You have matic network, ETH network to do all these nonsense activities. It will be great if Bitcoin network can be kept ordinal free.

Also, all the best to the investors of 7.5 Million USD who still believes in NFT. Lol!

Isn't that the whole point of crypto, that people have freedom to do stuff like this. The pointless crap is the living statement of it and natural causation of freedom.
Whole crypto field never goes as planned, as with total freedom comes unpredictability. Only thing you can predict is that people will use it in any way they please.
People who i don't like, are constantly using it to fund themselves for example. I can't change that and that's he thing that makes them different and valuable.
It's the whole essence and beauty of cryptocurrency platforms in the first place. Freedom to do crap as well as anything else.

Yes! You have a point! It's all about freedom without any Central authority. People get to do whatever crap they want but in a real world, it should not affect others.

With all these NFT thing, ETH users are still suffering with high fees and Bitcoin users have started suffering. If the freedom is affecting others, that's not a good freedom and needs to be stopped. But yes, you have a point!