The Bitcoin Frontier Fund is introducing a groundbreaking accelerator program dedicated to companies in the Ordinals ecosystem, per a press release sent to Bitcoin Magazine.
Each selected Ordinals venture will receive a $100,000 seed investment, signifying a strategic shift toward Bitcoin’s technical enhancement.
The fund raised $6.95 million to support Bitcoin-focused companies — with a growing focus on Ordinals infrastructure firms such as Gamma, Xverse and lending platform Liquidium.
“Ordinals is what we’ve been waiting for,” lead investor Trevor Owens highlighted. “You always want to build as close to native Bitcoin as you can, and Casey [Rodarmor] has changed the game there.”
The Ordinals protocol introduces a novel approach to numbering satoshis — the smallest units of bitcoin — allowing arbitrary data to be inscribed to “ordinal” sats, owned and transferred.
BTC Inc. CEO David Bailey praised Ordinals for unlocking “a whole new wave of technical advancement on Bitcoin that was previously deemed impossible.”
Despite recent NFT market fluctuations, investments in Ordinals infrastructure are rising. Notably, Xverse wallet recently secured a $5 million funding round led by Jump Capital, with participation from BTC Inc.’s 2140 fund and financial heavyweight Franklin Templeton.
Applications for the Ordinals accelerator are now open via the Bitcoin Frontier Fund’s website. The fund aims to finalize its next Ordinals investments by Q4 2023, charting a transformative path for Bitcoin’s future through the Ordinals protocol.
Source: https://bitcoinmagazine.com/business/bitcoin-frontier-fund-debuts-first-ordinals-accelerator