1 year ago
The programme volition supply effect money, mentoring, and enactment to approved applicants.
Bitcoin Frontier Fund, formerly Stacks Ventures, launched what it’s calling the archetypal Bitcoin Ordinals accelerator programme connected August 14.
Program Information
This programme is led by VC @TO & is simply a 4-month programme for builders to rise funding, link with mentors, & beryllium guided by the champion successful the manufacture (sneak highest below).
It volition assistance with co-founder relationships, mentors & advisors, fundraising & pitching. pic.twitter.com/MSykk2l7Dl
According to the program’s website, Bitcoin Frontier Fund is offering the effect wealth to startups innovating successful the Ordinals abstraction on with entree to backing pipelines and mentorship:
“We connection $100k successful concern and a badass programme and assemblage to instrumentality your startup to the adjacent level, successful speech for 2-3% equity successful communal shares.”Startups with nary “substantial funding” volition beryllium required to motion implicit a 3% equity stock successful bid to person the funds and articulation the program. Those who’ve already secured backing successful the magnitude of $600k oregon much wrong the erstwhile six months volition lone request to motion implicit a 2% share.
While the nonstop requirements for acceptance into the programme are unclear, the website lists respective areas of involvement including infrastructure, proven web3 usage cases, developer tools, and accessibility.
Related: Bitcoin Ordinals squad launches nonprofit to turn protocol development
Ordinals are a comparatively caller improvement for blockchain and cryptocurrency. They were created by Bitcoin developer Casey Rodarmor successful January of 2023.
Essentially, Ordinals are conscionable inscriptions made connected idiosyncratic units of a integer asset. If you ideate a creator creating constricted variation lithograph prints of a celebrated portion and past numbering them, you tin wrapper your caput astir ordinals.
Typically, the lowest numbers would person much perceived worth by collectors adjacent though the prints are considered precisely the same. Adding to this collectibility is the information that information tin beryllium “inscribed” oregon stored wrong a Bitcoin ordinal, making it relation a spot similar a non-fungible-token.
Bitcoin ordinals are made up of Satoshis, the smallest integer plus connected the Bitcoin blockchain. They tin beryllium inscribed with up to 4MB of data. This makes it imaginable to embed substance and images successful each ordinal.
Despite having lone existed since the extremity of January, 2023, Ordinals person had a large interaction connected the blockchain and cryptocurrency communities.
Among the tech’s supporters is Ethereum creator Vitalik Buterin, who precocious said “Ordinals have revived ‘builder culture’ connected Bitcoin.” Many different members of the community, however, person expressed concerns implicit what’s being perceived arsenic a civilian war betwixt those who judge Ordinals are harmful to the Bitcoin web and its spirit, and those who spot it arsenic an innovative improvement of existing technology.
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