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Bitcoin Frontier Fund, beneath the stewardship of Stacks Advisor and Ordinals Present host Trevor Owens, unveiled its inaugural accelerator devoted to Ordinals. Startups becoming a member of this accelerator are poised to obtain a seed funding of $100,000.
Having beforehand operated beneath “Stacks Ventures,” the fund’s roots lie in selling Stacks ecosystem initiatives and facilitating different layer-2 Bitcoin options. But, with the emergence of the Ordinals protocol, pioneered by Casey Rodarmor, a palpable shift in focus has been noticed. The Bitcoin Frontier Fund now emphasizes Ordinals and protocols anchored “near the bottom layer” of the blockchain.
Up up to now, the Bitcoin Frontier Fund has garnered a big $6.95M, designed to fortify Bitcoin-centric startups. This pool of funds, backed by notable buyers like Muneeb Ali and the Stacks Basis, is progressively increasing its purview to embody Ordinals infrastructure companies, with Gamma, Xverse, and Liquidium main the best way.
“With Ordinals, the dream of working intimately with native Bitcoin is turning into a actuality,” Owens mentioned. “Casey Rodarmor’s innovation has really revolutionized the sphere.”
The Ordinals protocol presents a refined system for denoting Satoshis, the tiniest unit of Bitcoin. It permits for seamless monitoring of arbitrary information appended to “ordinal” Satoshi transactions. This breakthrough is lauded for ushering in capabilities akin to NFTs on the Bitcoin platform and is being vetted for its potential to develop new token requirements atop Bitcoin.
The way forward for Bitcoin
Ordinals aren’t useless. It’s simply starting.
trevor Owens, Bitcoin Frontier fund
Curiously, whereas the bigger NFT market displays a staggering decline, upwards of 90% in some quarters, investments earmarked for Ordinals infrastructure proceed to surge. A testomony to this development is Xverse’s current announcement of a stellar $5 million funding spherical, spearheaded by Bounce Capital, flanked by Bitcoin Journal Fund’s Franklin Templeton.
The Bitcoin Frontier Fund is poised to conclude its subsequent wave of investments in Ordinals-related initiatives by quarter 4 of 2023 and is now accepting purposes right here. The deadline is September 15.
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