Taproot Wizards Raises $30M to Expand Bitcoin’s OP_CAT Ecosystem

Bitcoin Ordinals project Taproot Wizards has secured $30 million in a funding round led by Standard Crypto, with participation from Cyberfund, Collider Ventures, and others. This follows a previous $7.5 million investment and aims to enhance Bitcoin's smart contract capabilities through OP_CAT, an opcode feature enabling automated and customizable Bitcoin transactions.

Co-founded by Udi Wertheimer and Eric Wall in 2023, Taproot Wizards draws inspiration from the Bitcoin Wizard meme and the Taproot upgrade, which expanded Bitcoin’s functionality. OP_CAT, originally introduced by Satoshi Nakamoto, was later disabled due to underuse but has regained interest for its potential to enable Ethereum- and Solana-like applications on Bitcoin. Wertheimer believes OP_CAT could fuel the creation of new Bitcoin protocols at an accelerated pace, similar to Ethereum’s early growth.

Taproot Wizards has quickly become a leading project in the Bitcoin ecosystem. In February 2023, it minted Wizard #0001, creating a 4MB Bitcoin block, the largest in history. Its Quantum Cats NFT collection holds the highest market cap among Bitcoin-based digital assets. The team also fosters global engagement through its "Wizard School" initiative, promoting education and adoption in the space.

The Ordinals protocol, introduced by Casey Rodarmor, has significantly expanded Bitcoin’s use beyond a store of value, leading to increased on-chain activity. Taproot Wizards' latest funding round reinforces Bitcoin's evolution as it moves beyond digital gold into programmable finance and NFTs.