Bitcoin Ordinals Wallet Oyl Raises $3M With Arthur Hayes, BRC-20 Creator Domo Among Investors
Summary
Bitcoin Ordinals wallet Oyl has secured $3 million in pre-seed funding from investors such as crypto entrepreneur Arthur Hayes and BRC-20 token standard creator Domo. The funding round was led by Arca, a venture firm mainly focused on Ethereum non-fungible tokens (NFTs). Other Ethereum NFT funds, including Kanosei and FlamingoDAO, also invested, marking their first investment in a Bitcoin-focused company. Oyl is preparing to launch in the coming weeks and will be the first platform to offer "in-wallet" trading of Ordinals. The Ordinals Protocol enables users to mint tokens that can be traded on the Bitcoin network, bringing an equivalent of NFTs and other decentralized finance functions to the Bitcoin ecosystem.
