OrdinalsBot Raises $3 Million in Seed Round to Streamline Inscription Minting Process for NFT-like Media Assets on-chain

OrdinalsBot, a startup that simplifies the process of putting NFT-like media assets on the Bitcoin blockchain, has raised $3 million in a seed round led by DACM, bringing its total funding to over $4.5 million. The funds will be used to expand infrastructure, including hiring and launching an Ordinals inscription marketplace. OrdinalsBot allows on-chain blogging, text uploads, and supports BRC-20 tokens and parent-child inscription hierarchies. The startup was discovered on Discord and has been involved in many Ordinals projects, including inscribing 90% of the Magic Eden drops. The Runestone project used two blocks on the Bitcoin network to create parent and child Ordinals inscriptions, with the parent inscription being sent to a wallet believed to belong to Bitcoin creator Satoshi Nakamoto. The upcoming Runes protocol plans to launch its marketplace around May or June to capitalize on the expected hype around Runes.