OrdinalsBot Behind 80% of the Largest Files Inscribed on Bitcoin Blockchain; Announces Revenue, Growth and Partnerships

Rhea-AI Summary

OrdinalsBot, a leading provider of API solutions for the BTC blockchain, reported over $4M in revenue for Q1 and more than 200K users. The platform facilitated 80% of the largest files inscribed on the Bitcoin blockchain, including music by artists like French Montana and Ghostface Killah. The company has partnered with prominent industry players such as Marathon Digital Holdings (NASDAQ: MARA) and Xverse. Notable milestones include inscribing the largest-ever Bitcoin block, over 3.969 MB. OrdinalsBot has also introduced the $TRIO utility token, following a successful $3M+ funding round. The platform continues to drive growth and innovation in the BTC ecosystem, enabling easier creation and minting of fungible and non-fungible tokens.

Positive

• Generated over $4M in revenue for Q1 2024.
• Expanded user base to over 200K individuals.
• Partnered with significant industry players like Marathon Digital Holdings (NASDAQ: MARA) and Xverse.
• Inscribed 80% of the ten largest files ever on the Bitcoin blockchain.
• Set a new record for the largest Bitcoin block at 3.969 MB.
• Successfully launched the $TRIO utility token.
• Completed an oversubscribed $3M+ funding round.

Negative

• Details regarding the sustainability of the $4M Q1 revenue are not provided.
• The $TRIO utility token is not available to U.S. persons, limiting its market reach.

Insights

Financial Analyst

OrdinalsBot's announcement of $4M in revenue for Q1 is a promising indicator of financial health. Such a high revenue figure suggests robust demand for their services, especially given the company's niche focus on Bitcoin inscriptions. With more than 200K users, OrdinalsBot is not just generating revenue, but also building a substantial user base, which is important for long-term sustainability. The API solutions offered by OrdinalsBot could become more valuable as the data layer of the Bitcoin blockchain continues to grow, attracting more clients and possibly more collaborations.

Collaborations with major players like Marathon Digital Holdings and culturally significant figures such as French Montana and Ghostface Killah, help to further legitimize their platform. This diversity in partnerships suggests a broad market appeal, which could buffer the company against sector-specific downturns. However, investors should be cautious about the hype surrounding new tokens like $TRIO, as these can often be volatile and speculative in nature.

Looking ahead, the pipeline of partnerships and launches in Q2 could drive further growth, but investors should be mindful of potential market saturation and increased competition as the blockchain space evolves. The recent $3M+ funding round is a positive sign, showing confidence from investors in their business model, although they should monitor how effectively this capital is deployed.

Tech Expert

The fact that OrdinalsBot is behind 80% of the largest files inscribed on the Bitcoin blockchain is a significant technical achievement. This demonstrates the platform's capability to handle large-scale data inscriptions, which is an essential function for expanding Bitcoin's use cases beyond simple financial transactions. Inscribing large files, such as the Logos’ manifesto which exceeds 3.969 MB, proves the platform's robustness and could attract other high-profile projects to utilize their services.

The mention of various protocols like BRC-20 tokens and Runes highlights the innovative side of OrdinalsBot. These protocols are relatively new and represent a growing segment within the blockchain ecosystem. The successful inscription of collections like Runestones and Pizza Ninjas also points to a thriving community of creators using their platform, which could be a magnet for more developers and artists looking to leverage Bitcoin's blockchain for novel applications.

However, investors should be aware of the risks associated with pioneering technologies and protocols. There's always a chance that such innovations could face regulatory scrutiny or technical challenges. Yet, OrdinalsBot’s ability to consistently set and break records indicates a solid technological foundation, which might mitigate some of these risks.

Market Research Analyst

OrdinalsBot's market positioning and growth trajectory are noteworthy. With over 200K individuals on the platform and a significant presence in the largest Bitcoin inscriptions, the company is clearly establishing itself as a leader in this niche market. The involvement of well-known artists and collaborations with industry leaders further broaden their market appeal.

The strategic partnerships with companies like Xverse, Leather and Atomiq DeFi point to a well-rounded approach to market penetration. These collaborations likely extend OrdinalsBot's reach and enhance its credibility in the blockchain space. Furthermore, working with cultural icons to inscribe unique Ordinals provides a cross-sector appeal, attracting not just tech enthusiasts but also fans of art and music.

While the growth numbers are impressive, it's essential for investors to consider market trends. The blockchain space is notoriously volatile and the hype can sometimes be short-lived. Investors should watch how the market responds to new launches and partnerships in Q2 to gauge whether this growth is sustainable. The launch of the $TRIO utility token and its trading on platforms like Gate.io and MEXC could also impact market sentiment, albeit with inherent risks tied to new crypto tokens.

OrdinalsBot, founded last year, confirms more than $4M in inscriptions for Q1, over 200K individuals on the platform, and 80% of the ten largest files inscribed on Bitcoin Blockchain

Musicians including French Montana and Ghostface Killah have recently inscribed music on bitcoin using OrdinalsBot

MAHE, Seychelles--(BUSINESS WIRE)-- OrdinalsBot, the leading provider of API solutions for building out the data layer of the BTC blockchain, has kicked off the year with several key announcements and growth numbers. In just the last 3 months, OrdinalsBot, which simplifies the process of minting and managing Bitcoin inscriptions, BRC-20 tokens, Runes and other bitcoin protocols, has also collaborated with industry leaders, including Marathon Digital Holdings (NASDAQ: MARA), Xverse, Leather, ALEX, Oyl, Mintlayer, Atomiq DeFi, Sulu, and TeleportDAO.

OrdinalsBot is behind 80% of the ten largest files ever inscribed on the Bitcoin blockchain, and the team recently set the new record for the top spot by inscribing Logos’ manifesto. This is now the largest-ever Bitcoin block, exceeding 3.969 MB.

Successful collaborations with top artists, musicians and BRC-20 projects have resulted in over $4M in revenue for Q1 with a long pipeline of partnerships and launches in Q2. New collaborations will drive further growth and allow builders, creators, and collectors to more easily create and mint fungible and non-fungible tokens, Ordinals and Runes on the bitcoin blockchain.

“With Ordinals, we’re proving that Bitcoin is not just about finance—it is also a platform to create and store music, art, and all of the data necessary for identity, business settlement, and ownership,” shared Toby Lewis, Co-Founder of OrdinalsBot. “With all the hype around bitcoin price and bitcoin ETFs, few realize the services and utility of bitcoin is becoming more interesting and scalable every day. We’re thrilled to work with creators to bring more awareness and creativity into the space and expand Bitcoin’s vision.”

OrdinalsBot Data & Milestones:

• Over 200K individuals using the platform
• OrdinalsBot has also collaborated with cultural icons, inscribing unique musical Ordinals for rap legends French Montana and Ghostface Killah of Wu Tang Clan
• Inscribed:
  • 80% of the top 10 largest files ever on Bitcoin. This includes projects from Inscribed Pepes, Runestones by Leonidas, sovrn.art, and Ordz Games.
  • Inscribed 3 of the top 20 Ordinals collections in the top 20 by market cap (Runestone, Prometheans by CyberKongz, Pizza Ninjas)
  • More than 150K Ordinals from the top 100 Ordinals collections by market cap
• Provided backend support to Magic Eden’s inscription services
• Enabled the launch of the $ORDI BRC-20 token, the first meme coin on BRC-20, created by the founder of BRC-20 protocol (@Domo).
• Launching the Runes Launchpad
• $TRIO utility token launched on the BRC-20 protocol on April 12, 2024 and is now traded on Gate.io and MEXC

“We’re bitcoin and tech enthusiasts who want to turbocharge bitcoin by making it accessible to all—and we’re just getting started,” said Brian Laughlan, Co-Founder at OrdinalsBot. “Ordinals has shown its utility within the industry and we’re thrilled to play a role in its success.”

Lior Messika, Founder of Eden Block and Novel Labs: “OrdinalsBot’s unparalleled support helped us do things with our Mutant Hounds ordinals collection that have never been done before. Their team consistently goes above and beyond, pushing the boundaries of what’s possible in the ordinals ecosystem.”

These announcements come on the heels of OrdinalsBot’s recent oversubscribed $3M+ funding round and their token ($TRIO) launch. Investors include DACM, Eden Block, Kestrel0x, Kenetic Capital, Sora Ventures, Nural Capital, WWVentures, Lightning Ventures, and others.

$TRIO is a utility token for use within the OrdinalsBot ecosystem only, not an investment product. $TRIO is not available to U.S. persons. Please see ordinalsbot.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240509837121/en/

For press enquiries, please contact:

info@ordinalsbot.com

Source: OrdinalsBot

FAQ

What was OrdinalsBot's revenue for Q1 2024?

OrdinalsBot reported over $4M in revenue for Q1 2024.

How many users are on the OrdinalsBot platform?

OrdinalsBot has over 200K individuals using its platform.

What percentage of the largest Bitcoin files were inscribed by OrdinalsBot?

OrdinalsBot inscribed 80% of the ten largest files on the Bitcoin blockchain.

Which prominent musicians have used OrdinalsBot for Bitcoin inscriptions?

Musicians like French Montana and Ghostface Killah have inscribed music on Bitcoin using OrdinalsBot.

What is the largest Bitcoin block inscribed by OrdinalsBot?

OrdinalsBot inscribed the largest-ever Bitcoin block, exceeding 3.969 MB.

What is the significance of the $TRIO utility token?

The $TRIO utility token is used within the OrdinalsBot ecosystem and was launched following a successful $3M+ funding round.

What are some key partnerships of OrdinalsBot?

OrdinalsBot has partnered with industry leaders like Marathon Digital Holdings (NASDAQ: MARA), Xverse, and several others.