Bitcoin Explorer Ord.io Propels New Token Standard with $2M Funding

By: Eliza Bennet

Bitcoin ordinals explorer, Ord.io, recently announced a $2 million pre-seed funding round. Co-led by Bitcoin Frontier Fund and Sora Ventures, the funding is a strategic move in anticipation of the Runes Protocol launch. This new token standard for Bitcoin could substantially reshape the Bitcoin ecosystem, drawing parallels with last year's BRC-20 standard introduction.

The funds raised will be pivotal to expanding Ord.io's offer beyond the existing ordinals exploration. Enabling innovative product launches and feature rollouts, it will position the platform to capitalize on the forthcoming launch of Runes. According to company co-founder Leonadis, the move is strategic, betting on the growing Bitcoin market alongside an expanding appeal of memecoins and JPEGs.

The funding will facilitate the introduction of new financial tools and services while expanding the developer's team. Commenting on the development, Leonadis asserted the team's commitment to uphold legendary Bitcoin values to create a unique, non-replicated crypto experience.