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OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem


OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem
Mar, 26, 2024
2 min read
by CryptoSlate
OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem

Ordinals infrastructure platform OrdinalsBot said it raised over $3 million in its seed funding round to enhance opportunities within the broader Bitcoin ecosystem, according to a March 26 statement shared with CryptoSlate.

The funding round was led by DACM, with significant contributions from Eden Block and Nural Capital. Notable participants include WWVentures, Lightning Ventures, and Oak Grove Ventures.

With this latest funding injection, OrdinalsBot’s total funding now amounts to $4.5 million, as it had raised more than $1 million for its pre-seed funding.

OrdinalsBot launched last year after the Ordinals protocol became one of the primary narratives within the crypto community. Since then, the platform has developed a range of products facilitating the creation and management of Bitcoin inscriptions and BRC-20 tokens.

‘Enhancing opportunities’

The platform plans to leverage this fresh capital to enhance opportunities within the Ordinals and broader Bitcoin ecosystem.

To achieve this, the firm wants to scale up its team across all departments, particularly its development team, which would focus on pioneering solutions to empower users and developers within the ecosystem.

Toby Lewis, the co-founder of OrdinalsBot, emphasized the platform’s evolution from an automated inscription service to a multifaceted endeavor. He said:

“We initially launched as the first automated inscription service in the Bitcoin Ordinals ecosystem, and have since expanded in many ways and believe that this next chapter, with the support of our new investors, will further continue to put us in a position to turbocharge Bitcoin – the biggest and most decentralized chain in the world.”

Similarly, Brian Laughlan, the other co-founder, explained Bitcoin’s pivotal role as the backbone of decentralized finance and highlighted OrdinalsBot’s contribution to establishing data infrastructure on the Bitcoin blockchain.

Furthermore, DACM CEO Richard Galvin commended OrdinalsBot’s commitment to innovation in Bitcoin’s ordinal inscriptions. He noted the platform’s involvement in mining the largest BTC block to date, including three of the ten largest BTC inscriptions recorded last month.

Disclaimer: A few members of CryptoSlate’s team made a small investment in OrdinalsBot because we believe in the team and project.

The post OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem appeared first on CryptoSlate.

Read the article at CryptoSlate

Read More

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MainNewsOrdinalsBot ...

OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem


OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem
Mar, 26, 2024
2 min read
by CryptoSlate
OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem

Ordinals infrastructure platform OrdinalsBot said it raised over $3 million in its seed funding round to enhance opportunities within the broader Bitcoin ecosystem, according to a March 26 statement shared with CryptoSlate.

The funding round was led by DACM, with significant contributions from Eden Block and Nural Capital. Notable participants include WWVentures, Lightning Ventures, and Oak Grove Ventures.

With this latest funding injection, OrdinalsBot’s total funding now amounts to $4.5 million, as it had raised more than $1 million for its pre-seed funding.

OrdinalsBot launched last year after the Ordinals protocol became one of the primary narratives within the crypto community. Since then, the platform has developed a range of products facilitating the creation and management of Bitcoin inscriptions and BRC-20 tokens.

‘Enhancing opportunities’

The platform plans to leverage this fresh capital to enhance opportunities within the Ordinals and broader Bitcoin ecosystem.

To achieve this, the firm wants to scale up its team across all departments, particularly its development team, which would focus on pioneering solutions to empower users and developers within the ecosystem.

Toby Lewis, the co-founder of OrdinalsBot, emphasized the platform’s evolution from an automated inscription service to a multifaceted endeavor. He said:

“We initially launched as the first automated inscription service in the Bitcoin Ordinals ecosystem, and have since expanded in many ways and believe that this next chapter, with the support of our new investors, will further continue to put us in a position to turbocharge Bitcoin – the biggest and most decentralized chain in the world.”

Similarly, Brian Laughlan, the other co-founder, explained Bitcoin’s pivotal role as the backbone of decentralized finance and highlighted OrdinalsBot’s contribution to establishing data infrastructure on the Bitcoin blockchain.

Furthermore, DACM CEO Richard Galvin commended OrdinalsBot’s commitment to innovation in Bitcoin’s ordinal inscriptions. He noted the platform’s involvement in mining the largest BTC block to date, including three of the ten largest BTC inscriptions recorded last month.

Disclaimer: A few members of CryptoSlate’s team made a small investment in OrdinalsBot because we believe in the team and project.

The post OrdinalsBot secures $3 million seed funding to turbocharge Bitcoin inscriptions ecosystem appeared first on CryptoSlate.

Read the article at CryptoSlate

Read More

Cosmos DAO Osmosis to Adopt Fee-Free Bitcoin Bridge

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Osmosis is achieving this through a revenue-share proposal with Bitcoin bridge Nomic.
Jun, 21, 2024
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Jun, 23, 2024
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