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Home»NFT»Bitcoin Ordinals Wallet Oyl Raises $3 Million With Arthur Hayes, BRC-20 Creator Domo Among Investors
NFT

Bitcoin Ordinals Wallet Oyl Raises $3 Million With Arthur Hayes, BRC-20 Creator Domo Among Investors

2024-03-07No Comments1 Min Read
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Bitcoin Ordinals wallet Oyl has raised $3 million in pre-seed funding with support from investors including crypto entrepreneur Arthur Hayes and pseudonymous BRC-20 token standard maker Domo.

The round was led by Arca, a venture capital firm primarily focused on Ethereum non-fungible tokens (NFTs), according to an emailed announcement on Thursday.

Multiple other Ethereum NFT funds were also among the backers, marking their first investment in a Bitcoin-focused company. These investors included Kanosei and FlamingoDAO.

Oyl will be rolled out in the coming weeks and will be the first platform to offer “in-wallet” trading of Ordinals.

The Ordinals Protocol allows users to mint tokens that can be traded on the Bitcoin network by embedding data in small Bitcoin-based transactions. Ordinals has brought an equivalent of NFTs and other decentralized finance (DeFi) functions to the Bitcoin ecosystem.

Read more: Bitcoin NFT Project Taproot Wizards Sells First Collection and Raises $13 Million

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See also  DEGN launches NFTs linked to 1,690 new 'physical money' printers
among Arthur Bitcoin BRC20 Creator Domo Hayes investors Million Ordinals Oyl raises Wallet
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