Taproot Wizards Making Bitcoin Fun Again

GM. It was quite a rollercoaster weekend. Here's the TL;dr if you missed it:

• Credit Suisse was rescued by UBS for $3.25B, implying a share price 87% lower than market close on Friday (i.e. shareholders are rekt)

• The US Federal Reserve increases swap operations to daily instead of weekly in order to "enhance the provision of liquidity in banks"

• Balaji (ex-Coinbase CTO) says that many banks are insolvent and raises the fire alarm. He says that Bitcoin is going to $1 million...err ok.

But.. we know you're really here only for the JPEGs, so let's get straight into it!

Today we cover:

• CryptoPunks had a good weekend

• Taproot Wizards make Bitcoin fun again

• Poopie gets rekted trying to destroy a Doodles derivative

• How PFP collections can make a comeback

Market Update: CryptoPunks Buck the Trend

Over the weekend, NFTs continue to bleed out. Not surprising considering that there are 2 strong narratives going on right now:

• Banks going insolvent = "Bitcoin to $1 million"?

• Arbitrum season (ARB token airdrop goes live on Friday)

Only CryptoPunks managed to buckle the trend, with prices moving up almost 20% over the past 30 days. Is this due to real demand for punks, or traders just doing their thing? We shall see.

Taproot Wizards Make Bitcoin Fun Again

💲 What to know: Taproot Wizards is a Bitcoin PFP NFT collection that is built on Ordinals, with a vision to "Make Bitcoin Magical Again".

This is the creation of Udi Wertheimer, a developer and well-known Bitcoin influencer.

☘️ In the weeds: Taproot Wizards was one of the first NFT collections created when Ordinals came out. There are a total of 2,102 of these cartoon wizards. BUT most of it hasn't been released to the community yet, which means there's still an opportunity to get one for free.

So...you're itching to cast some spells and be a wizard? To do so, you need to join the Wizard School. There, you can complete various quests. The more quests you complete, the higher your chance of acquiring a Taproot Wizard when it finally drops.

Quest #3 is live now and it involves renting a wizard costume and taking a shower. We're not kidding. And wannabe wizards are not shying away.

We found a couple of very entertaining ones:

And one by the great Gabriel Haines. We knew he wouldn't be able to resist:

Some of the coolest folks on Twitter and Bitcoin community members are already flaunting their Taproot Wizards, including:

• Meltem Demirors

• Nic Carter

• 0xfar

• Zack Voell

🤑 Why it matters: Behind the memes and entertainment, Taproot Wizards aims to inspire a new wave of attention on Bitcoin. Bitcoin culture has traditionally been very conservative, shunning innovation in the interest of stability. But Ordinals & Taproot Wizards has injected some fun and humor back into the ecosystem — a refreshing change IMO.

No one knows where the Wizards will be in a year's time, but it's a golden opportunity to educate more people on what Bitcoin stands for.

Today's News & Coolest Tweets

• Animoca Brands releases a metaverse update on its portfolio companies, includes Tiny Tap, Life Beyond, Mocaverse and more.

• DeGods minted out its Bitcoin NFT collection in a single 3.33 MB block.

• TwelveFold, the Yuga Labs Ordinals art collection, hints that it has more plans in April

• 9dcc, a crypto-native luxury fashion house, will drop an iconic baseball cap on April 12

• Momoguro releases its roadmap and game plans for next few months

🐥 Poopie gets rekted trying to destroy a Doodles derivative collection

🐥 Why early AI NFT collections will be in museums

🐥 What you need to know about DeGods

🐥 Game plan for PFP collections to make a comeback

🐥 BendDAO liquidations for BAYCs... soon?

🐥 HK will allow retail investors to invest in crypto

New Projects Corner

🍿 (Art) Rik Oostenbroek's 133 limited edition collection on March 20

That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). If you found this newsletter helpful, imagine how much your friends will love you if you forward it to them. Just sayin' 🥹

We're looking to improve the newsletter and make it as relevant as possible for you. If you have any feedback to share — please just reply to this email and let us know. Or even to just say 'Hi'.

Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.