- Sora Ventures announced the launch of a $2 million fund to support the Ordinals ecosystem.
- The funds raised will be used to develop projects within the Tap Protocol.
- The protocol previously attracted $4.2 million in investment from more than 10 funds.
Venture capital company Sora Ventures has launched a $2 million liquid fund aimed at developing and supporting Tap Protocol. This was reported by Crypto Slate with reference to company data.
The funding demonstrates growing interest in the project, which plays an important role in the development of Ordinal Finance (OrdFi). It is reported that the Sora TTP fund will be led by the UTXO Management team. It was also supported by BTSE, representatives of Origin Protocol, Waterdrip Capital and SeraFund.
The funds raised will be used to create projects within the Tap Protocol. In December 2023, the protocol attracted $4.2 million in investments from Cypher Capital, Rw3, Oak Grove Capital, Perock Capital and other funds.
As a representative of Tap Protocol noted, the platform is intended for creating applications based on Ordinals. It is expected that developers will be able to use it to tokenize assets and develop various projects on the Bitcoin network.
According to the data provided, Tap Protocol plays an important role in finding and tracking “tags” for OrdFi applications. Recently, the Trac Systems team behind the protocol introduced a new tool, Trac Core. It is designed to simplify the indexing of data on the Bitcoin network.
“This is the first fund in a series of Sora Ventures products supporting the Ordinals ecosystem. Many people are optimistic about Tap Protocol. This is a great opportunity for investors to get involved and gain access to the ecosystem,” said Sora Ventures Managing Partner Jason Fung.
Let us recall that in December 2023, one of the tokens based on the Ordinals protocol was sold for $450,000. We also reported on the integration of the Bitcoin network and “inscriptions” into the Phantom wallet.