Newly launched Bitcoin tokens platform BRC20.com has raised $1.5 million in funding led by UTXO Management, the asset management arm of Bitcoin Magazine’s parent company BTC Inc.
The round included support from Zanshin Capital Management, Unbroken Chain, One Block Capital, Sora Ventures, OWL Ventures, Bitcoin Frontier Fund, Hamble and New Tribe Capital.
The investment comes at a time of increased interest in the BRC-20 token standard, created in March 2023 to facilitate the creation and transfer of fungible tokens on Bitcoin through the Ordinals protocol.
“Today’s news is an important milestone in the journey of BRC20.com as we announce some of the most active and strategic investors across the Bitcoin and Web3 ecosystems joining our mission of building the most user-friendly and comprehensive platform for discovering and interacting with BRC-20 tokens and other Bitcoin-based assets,” the company said in a statement to Bitcoin Magazine.
The protocol has been criticized by some in the
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