Bitcoin frontier fundled by Stacks Advisor and host of the Ordinals Show Trevor Owens, unveiled its inaugural accelerator dedicated to Ordinals. Startups that join this accelerator are ready to receive a seed investment of $100,000.
The fund previously operated under “Stacks Ventures” and its roots lie in promoting Stacks ecosystem projects and facilitating other layer-2 Bitcoin solutions. But with the rise of the Ordinals protocol, pioneered by Casey Rodarmor, a palpable shift in focus has been observed. The Bitcoin Frontier Fund is now emphasizing ordinal numbers and protocols anchored “close to the base layer” of the blockchain.
So far, the Bitcoin Frontier Fund has collected a significant $6.95 million designed to bolster Bitcoin-focused startups. This pool of funds, backed by notable investors such as Muneeb Ali and the Stacks Foundation, is gradually expanding its scope to include Ordinals infrastructure companies, led by Gamma, Xverse and Liquidium.
“With Ordinals, the dream of working closely with native Bitcoin becomes a reality,” said Owens. “Casey Rodarmor’s innovation has truly revolutionized the field.”
The Ordinals protocol presents a sophisticated system for denoting Satoshis, the smallest unit of Bitcoin. It provides seamless tracking of random data added to “ordinal” Satoshi transactions. This breakthrough has been praised for ushering in capabilities similar to NFTs on the Bitcoin platform and vetted for its potential to develop new token standards on top of Bitcoin.
The Future of Bitcoin
Ordinals are not dead. It’s only just begun.
Trevor Owens, Bitcoin Frontier fund
Interestingly, while the larger NFT market is showing a staggering decline, over 90% in some quarters, investments destined for Ordinals infrastructure continue to increase. A testament to this trend is Xverse’s recent announcement of a stellar $5 million round of funding spearheaded by Jump Capital, flanked by Bitcoin Magazine Fund’s Franklin Templeton.
The Bitcoin Frontier Fund is poised to complete its next wave of investment in Ordinals-related initiatives by Q4 2023 and is now accepting applications here. The deadline is September 15.