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Bitcoin Ordinals Explorer, Ord.io, Raises $2 Million in Pre-Seed Funding
Ord.io, the Bitcoin Ordinals explorer, has successfully secured $2 million in a pre-seed funding round that was co-led by Bitcoin Frontier Fund and Sora Ventures. The funding is aimed at preparing the platform for the upcoming launch of the highly anticipated Runes Protocol. Other notable investors in this round include Longhash Ventures, Daxos Capital, Portal Ventures, and UTXO Management, among others.
Impending Launch of Runes Protocol
According to a statement released on April 17, the funding will enable Ord.io to expand its focus beyond Ordinals exploration and introduce new features and products that align with the impending launch of the Runes Protocol. Runes is set to introduce a new fungible token standard for Bitcoin, scheduled to debut on the day of the halving event.
Industry experts anticipate that the launch of Runes will have a significant impact on the Bitcoin ecosystem, drawing parallels to the introduction of the Ordinals-based BRC-20 standard last year. Leonadis, the project’s co-founder, stressed the importance of being prepared for the potential opportunities that could arise, highlighting the platform’s potential to attract millions of new Bitcoin adopters. He expressed:
“We’re positioning ourselves to be able to serve the next generation of Bitcoiners who not only want to hold BTC but also collect JPEGs and trade memecoins… We believe that Runes and memecoins can onboard tens of millions of people to Bitcoin but we have to make sure the experience is great.”
Consequently, the raised capital will support Ord.io in enhancing its existing features, launching new services, and developing financial tools. Additionally, the funds will aid in expanding the developer team to further strengthen the platform’s capabilities. Leonadis added:
“We can’t simply replicate Ethereum or Solana on Bitcoin. That would be a rather disappointing outcome. Instead, we aim to embody the principles of iconic Bitcoin figures like Satoshi Nakamoto, Hal Finney, and Casey Rodarmor to create something truly exceptional.”
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