- The Bitcoin Frontier Fund has launched an accelerator to back projects building on the Ordinals ecosystem.
- The program plans to back startups with up to $100,000 in seed funding and mentorship opportunities.
- The Ordinals Accelerator Program specifically targets blockchain infrastructure, defi, dev tools, and proven web3 use cases.
The Bitcoin Frontier Fund has launched the Ordinals Accelerator Program. The bitcoin-based venture plans to back Ordinals-based startups with up to $100,000 seed funding plus mentorship opportunities.
Led by Bitcoin entrepreneur and influencer Trevor Owens, the fund is specifically targeting projects centred on blockchain infrastructure, Decentralised Finance (DeFi), developer tools, proven web3 use cases, and enabling technologies.
According to a company tweet on Monday, the Ordinals Accelerator is a 4-month program for builders to raise funding, connect with mentors, & be guided by the best in the industry.
Successful applicants can benefit from the expert advice and support from industry leaders including DeGods and Dust Labs’ Kevin DeGods, Isabel Foxen Duke – an Ordinals expert, Charles Spears – an Ordinals Expert, and Dillon Healy of Bitcoin Magazine, among others.
The fund is offering $70,000 in cash and $30,000 in waived program fees in exchange for 2-3% equity. The “program fee covers the program, staff, coaches, EIRs & entry to The BTC conference next year,” Bitcoin Frontier Fund wrote in a tweet.
The program is also offering prospective applicants an opportunity to vet and receive feedback from investors through its pitch deck, which includes among other resources, training pitches, tailored coaching, and weekly practice.
The Ordinals Accelerator Program is open for early applicants starting now through September 15, when the regular application opens. The application window will remain open until October 31, 2023.
This announcement comes during a time when there is a reinjection of funding in the web3 space. After several months of slowdown, July saw CoinFund close a $158 million venture fund for web3 projects, while Polychain Capital announced a $200 million first close of a targeted $400 million digital asset fund.
Metaverse startup Futureverse, which recently launched a $50 million accelerator program for projects building on The Root Network raised $54 million, while Animoca Brands invested $30 million in a Hong Kong-based crypto exchange and banking super app Hi.
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