- Bitcoin Frontier Fund rolls out accelerator for Ordinals-based ventures, promising $100,000 seed funding and mentorship.
- Ordinals, a recent Bitcoin-based protocol, has triggered a surge in innovations, including NFT-like assets on Bitcoin.
Deciphering the New Dawn of Bitcoin Innovation
In a significant move to bolster the crypto ecosystem, the Bitcoin Frontier Fund, formerly recognized as Stacks Ventures, unveiled its accelerator program this Monday. This initiative is tailored for startups built on Ordinals—a groundbreaking, NFT-like platform established over Bitcoin. Key highlights of this accelerator encompass coveted mentorship slots and seed investments to the tune of $100,000.
We are excited to announce the launch of the FIRST Ordinals Accelerator Program!
Ordinals have revolutionized what can be possible with Bitcoin.
We will be investing in Infrastructure, defi, dev tools, proven web3 use cases, and enabling technologies.
Learn more 🧵👇
— Bitcoin Frontier Fund (@BTCFrontierFund) August 14, 2023
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A Deep Dive into Ordinals
Engineered by Casey Rodarmor and introduced earlier this year, Ordinals has propelled a wave of creative pursuits around Bitcoin, the crypto sphere’s pioneer digital asset. One of the standout innovations birthed from this protocol is the creation of inscriptions, assets reminiscent of NFTs, constructed over the Bitcoin infrastructure. Following suit, Bitcoin-native tokens labeled BRC-20s emerged, broadening the crypto landscape.
At the helm of the Bitcoin Frontier Fund stands Trevor Owens, a distinguished entrepreneur and influencer. Owens ardently believes in the vast potential rooted in Ordinals and its associated entities. Emphasizing the merit of crafting solutions during market downtrends, he posited, “Building in the bear market now will be when the next unicorns are started.”
Pivoting with the Times
The Bitcoin Frontier Fund’s legacy traces back to its previous alias. With an impressive fundraising haul of $7 million, it had its focus trained on businesses emphasizing Bitcoin and the Stacks network—a layer-2 blockchain designed for smart contracts and decentralized apps atop Bitcoin.
However, the rebranding to its current nomenclature underscores the transformative impact Ordinals has imprinted on discussions revolving around Bitcoin and the emerging Web3 paradigm. This shift, as Owens points out, mirrors the evolving narrative in the crypto space.
Recent Twitter updates from the Bitcoin Frontier Fund offer a sneak peek into the program’s intricate details. Startups stand to gain $100k, bifurcated into $70k cash and a $30k program fee, in return for an equity slice ranging between 2-3%. The program’s rich offerings include robust community support, extensive mentorship, and a ticket to the coveted BTC conference the subsequent year.
With the accelerator’s application window opening soon, this move is poised to invigorate the Ordinals ecosystem and thrust Bitcoin into its next innovation phase.
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