FacebookTwitterLinkedInTelegramCopy LinkEmail

Sora Ventures Launches $2M Fund for Next-Gen Bitcoin Projects

Sora Ventures Launches $2M Fund for Next-Gen Bitcoin Projects

Sora Ventures, a venture capital entity, has introduced a $2 million fund tailored for projects within the TTP ecosystem.

This ecosystem encompasses assets like $TRAC, Tap Protocol, and $PIPE, forming a decentralized indexer ecosystem powered by the Ordinals Protocol.

UTXO Management, known for its involvement with Bitcoin Magazine, leads the Sora TTP Fund. This initiative has garnered support from various Web3 investors, including BTSE, Origin Protocol founders, Waterdrip Capital, and SeraFund.

This funding underscores the rising interest in Bitcoin Ordinals and associated protocols like Tap Protocol. Tap Protocol notably secured a $4.2 million funding round in December 2023 to expedite tokenization and decentralized applications (dApps) on the Bitcoin network.

Tap Protocol, functioning without complex Layer 2 solutions, efficiently verifies transactions through its “tapping” mechanism. The TAP token standard prioritizes simplicity and encourages community-led enhancements, resembling the BRC-20 standard while offering advanced features like token staking and swaps.

READ MORE: Top Crypto Miner Marathon Digital Eyes Africa Expansion

Trac Systems, the entity behind Tap Protocol, recently launched Trac Core for TAP Protocol to simplify data indexing within the Bitcoin network, potentially attracting more developers to explore Bitcoin applications.

Sora Ventures Managing Partner Jason Fang noted the bullish sentiment around Tap Protocol and emphasized the fund as the first in a series supporting the Ordinals ecosystem.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Learn more about crypto and blockchain technology.