Bitcoin Frontiers Fund (formerly Stacks Ventures) launched what it calls the first-ever Bitcoin Ordinals accelerator program on Aug. 14.
program information
The program is led by VC @arrive & is a 4-month program for builders to raise funds, network with mentors, and be mentored by the best in the business (sneak peek below).
It will help with co-founder relationships, mentorship and advisors, fundraising and introductions. pic.twitter.com/MSykk2l7Dl
— Bitcoin Frontier Fund (@BTCFrontierFund) August 14, 2023
According to the program’s website, the Bitcoin Frontier Fund is dedication Provide seed funding, access to funding and mentorship to innovative startups in the Ordinals space:
“We help your startup take your startup to the next level by offering $100,000 in investment along with great programs and community in exchange for 2-3% common stock equity.”
Startups without “substantial funding” will be required to sign up for more than 3% equity to be funded and join the program. Those who have received $600,000 or more in funding within the past six months are only required to sign up for a 2 percent share.
While the exact requirements to join the program are unclear, the website lists several areas of interest, including infrastructure, proven Web3 use cases, developer tools and accessibility.
related: Bitcoin Ordinals Team Launches Nonprofit to Boost Protocol Development
Ordinal numbers are a relatively new development in blockchain and cryptocurrencies.they are created Proposed by Bitcoin (BTC) developer Casey Rodarmor in January 2023.
Essentially, serial numbers are just inscriptions inscribed on individual units of a digital asset. They are similar to a limited edition lithograph of a painter creating a famous work, which is then numbered.
Often, collectors will value the lowest number even when the prints are considered identical. Adding to this collectibility is the fact that data can be “burned” or stored in a Bitcoin ordinal, making it function somewhat like a non-fungible token.
Bitcoin ordinal numbers are made up of Satoshi, the smallest digital asset on the Bitcoin blockchain. They can burn up to four megabytes of data. This makes it possible to embed text and images within each ordinal.
Although the serial number has only existed since the end of January 2023, it has already had a major impact on the blockchain and cryptocurrency community.
Ethereum founder Vitalik Buterin, one of the technology’s proponents, recently stated that “Ordinals revive Bitcoin’s ‘builder culture’.” Fears of a civil war between those who believe ordinal numbers are harmful to the Bitcoin network and its ethos and those who see them as an innovative evolution of existing technology.
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