Bring the wild rice and water to a boil in a saucepan over high heat. Reduce heat to medium-low, cover, and simmer until the rice is tender but not mushy, 20 to 45 minutes depending on the variety of wild rice.
Drain off any excess liquid, fluff the rice with a fork, and cook uncovered 5 minutes more.
Whisk eggs, buttermilk, and vanilla in a large bowl.
Combine flour, sugar, baking powder, nutmeg, and salt in a separate large bowl. Slowly add the dry ingredients to the egg mixture, beating well to make a smooth batter. Stir in butter and cooked wild rice.
Heat a lightly oiled griddle or skillet over medium-high heat. For each pancake, pour 1/4 cup batter on griddle and cook until browned, about 1 1/2 minutes. Flip and cook until browned on the other side, about 1 minute. Continue with remaining batter.
