The Taproot Wizards, featuring 2,108 JPEGs inscribed on Bitcoin via the Ordinals protocol, prepared to enter 2024 following a $7.5 million seed funding success. This was quickly outdone by the Quantum Cats collection sale, which yielded 300 BTC, approximately $13 million at the time, and is now valued at over double that amount.

Founded by Eric Wall, Udi Wertheimer, and Francisco Alarcon, the Taproot Wizards endeavor to "make bitcoin magical again," revisiting a 2013 meme that called BTC "magic internet money." Their current goal involves enhancing Bitcoin functionalities with the proposed OP_CAT protocol, once integrated by Satoshi Nakamoto but later removed due to memory and security concerns.

"CAT-based covenants would allow Bitcoin users to trade between BTC and stablecoins on-chain, borrow with BTC as collateral, bridge their bitcoin to other chains, and utilize new types of layer 2," Wertheimer stated.