Bitcoin Frontier Fund Introduces Ordinals Accelerator Program

Aug. 15, 2023
Bitcoin Frontier Fund Introduces Ordinals Accelerator Program

On August 14, Bitcoin Frontier Fund (previously known as Stacks Ventures) launched the Ordinals Accelerator program. This bitcoin-based venture aims to provide Ordinals-based startups with seed funding of up to $100,000 and valuable mentorship opportunities.

The fund, led by BTC influencer and entrepreneur Trevor Owens, aims to promote development around Ordinals, the Bitcoin-based protocol introduced on January 20, 2023, by developer Casey Rodarmor.

Ordinals enable the generation of NFT-like assets known as inscriptions on the Bitcoin platform. Furthermore, this protocol has led to innovations like Bitcoin-native tokens called BRC-20s.

The fund offers $30,000 in waived program fees and $70,000 in cash in exchange for 2-3% equity. Bitcoin Frontier Fund tweeted that The program fee encompassed the program, coaches, staff, EIRs & entry to The BTC conference next year. 

Support For Ordinals Accelerator Program’s Participants 

The Ordinals Accelerator is a four-month program, the company said. It helps builders secure funding, establish mentor connections, and receive guidance from industry experts.

Successful applicants can benefit from the support of industry experts, including Charles Spears – an Ordinals expert; Kevin DeGauds of DeGauds and Dust Labs; Isabel Foxon-Duke – an Ordinals expert; and Dylan Haley of Bitcoin Magazine, among others.

Startups lacking funding must give up a 3% equity ownership to participate in the program. However, those who have successfully received funding totaling $600,000 or more in the recent six months will give up only 2% equity ownership, as per the announcement.

Instructions to participate in the scheme are unclear. Nevertheless, the main thrust of the venture revolves around DeFi, blockchain infrastructure, and web3 applications.

Trevor Owens stated: 

“Ordinals is what we have been waiting for. He further added,” You always want to build as close to native Bitcoin as you can, and Casey has changed the game there.”

From now until September 15, the Ordinals Promotion Program is accepting early applications, after which the regular application period will begin. The opportunity to apply will be available until October 31, 2023. The latest program comes at a time when funding is resurging in the Web3 space.

After a few months of reduced activity, CoinFund wrapped up a $158 million venture fund for web3 initiatives in July. At the same time, Polychain Capital revealed the first round closure of a $200 million digital asset fund, aiming for a total of $400 million.

Syed Ali Haider

Researcher & Editor
Ali Haider is a Blockchain enthusiast and writer passionate about enhancing the acceptance, adoption, and integration of Blockchain technology worldwide. He has also advocated for digital freedom and cybersecurity for many years.