In a bold and pioneering move, institutional investors are venturing into the realm of Bitcoin Ordinals as they eagerly support the launch of the protocol’s first managed fund, ‘Unbroken Chain,’ with the ambitious goal of raising a substantial $5 million.
The driving force behind ‘Unbroken Chain’ is none other than L. Asher Corson from Consolidated Trading, and the venture has gained considerable traction, thanks to prominent figures such as Domo, the mastermind behind the BRC-20 token standard. It’s also worth noting the valuable support of Isabel Foxen Duke, formerly in charge of communications at Ordinals, and UTXO Management from BTC Inc. This initiative is off to a flying start with more than $1.5 million in contributions, further fueled by the acquisition of a notable ‘Bitcoin Rock’ on September 20th for a whopping $85,000 (equivalent to 3 BTC).
The ‘Unbroken Chain’ fund introduces a groundbreaking funding approach, as it actively dives into trading inscriptions and Ordinals. These Ordinals comprise BRC-20 tokens, somewhat akin to the popular ERC-20 tokens on the Ethereum network. What makes this initiative truly exceptional is the diverse range of assets involved, from Bitcoin-native tokens to unique satoshis and remarkable inscriptions. By uniting these digital collectibles under the ‘Unbroken Chain’ banner, a significant infusion of capital breathes new life into the Ordinals ecosystem.
This innovative endeavor not only highlights the growing interest of institutional investors in Bitcoin-based NFTs but also showcases the limitless potential within the ever-expanding blockchain landscape. ‘Unbroken Chain’ is paving the way for exciting exploration and investment in this cutting-edge sector, proving that the sky is the limit in the world of Bitcoin Ordinals.
However, the adoption of Ordinals and BRC-20 tokens hasn’t been without controversy. Some developers argue that they are clogging the network, driving up transaction fees, and, in their view, polluting the blockchain with data that diverges from Satoshi Nakamoto’s original vision of a peer-to-peer electronic cash system.
In contrast, UTXO Management investor and Bitcoin Magazine CEO, David Bailey, sees this as an exciting frontier for institutional investors. By directly engaging with Ordinals assets, he is part of the vanguard exploring this innovative landscape.