Today in NFT updates, OrdinalsBot, the team behind the Ordinals project focused on enhancing the data layer of Bitcoin, unveiled a successful $3 million seed funding round that garnered significant interest from investors.
The round was spearheaded by DACM, joined by prominent investors such as Eden Block, Nural Capital, WWVentures, Lightning Ventures, Oak Grove Ventures, UTXO Management, Kenetic Capital, CMS Holdings, Kestrel0x1, Sora Ventures, London Real Ventures, Crypto Zombie, MDX Crypto, and others.
In a statement accompanying the announcement, the team expressed their intention to utilize the fresh capital to expand their workforce across all areas, with a particular emphasis on hiring skilled Bitcoin developers.
This funding round follows OrdinalsBot’s pre-seed financing secured just under five months ago, bringing their total funding to an impressive sum of over $4.5 million.
“We believe this infusion of capital will empower OrdinalsBot to redefine the landscape and infrastructure within the blockchain realm, unlocking novel opportunities for both the Ordinals and BTC ecosystem,” remarked the team spokesperson.
Richard Galvin, DACM’s co-founder and CEO, highlighted the significant contributions of the OrdinalsBot team, noting their involvement in mining the largest BTC block to date and three of the top ten largest BTC inscriptions within the past fortnight alone.
“They are facilitating projects to mint in a single BTC block,” Galvin remarked, “which was previously unattainable. From a technical standpoint, this development is truly intriguing as it introduces new utility to the Bitcoin blockchain.”
Since securing their initial pre-seed funding, OrdinalsBot has expanded its product portfolio to streamline the process of minting and managing Bitcoin inscriptions and BRC-20 tokens. This includes the development of the OrdinalsBot Inscription Tool, OrdinalsBot Scribe, and OrdinalsBot API.
Toby Lewis, co-founder of OrdinalsBot, expressed excitement about the company’s progress over the past year. “We’ve experienced unprecedented growth and are revolutionizing how the public accesses and conducts inscriptions on Bitcoin, far exceeding our initial expectations.”
Brian Laughlan, another co-founder, emphasized the team’s focus on building “the infrastructure for data on the Bitcoin blockchain.” He anticipates a significant surge in opportunities and interest with the launch of the Trio Marketplace, where users can access various Ordinals-related services and products.
