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Home»ADOPTION NEWS»Ordinals-based Tap Protocol raises $4.2 million for Bitcoin development.
ADOPTION NEWS

Ordinals-based Tap Protocol raises $4.2 million for Bitcoin development.

By Crypto FlexsDecember 17, 20232 Mins Read
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Ordinals-based Tap Protocol raises .2 million for Bitcoin development.
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Special Offer • December 17, 2023 2:17 PM EST

Posted 1 minute ago In ~

Germany-based Trac Systems, the parent company of Tap Protocol, announced a $4.2 million funding round led by Sora Ventures. bitcoin BTC

-0.77%
Capability as a developer platform through the Ordinals system.

“With our successful fundraising, Trac Systems is well-positioned to build on Bitcoin and leverage it as a platform for tokenization, gamification and DeFi,” said Benny the Dev, CEO of Trac Systems.

The company’s statement highlighted several applications already enabled by Ordinals through the Tap Protocol, including the spin-off of Ordinals art and token functionality for gaming applications.

Tap Protocol is one of many companies competing in the Bitcoin Ordinals space as enthusiasm for the ordination has spread to multiple blockchains, some of which have struggled to meet demand.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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