Ordinals-based Tap Protocol raises $4.2 million for Bitcoin development.
Germany-based Trac Systems, the parent company of Tap Protocol, announced a $4.2 million funding round led by Sora Ventures. Bitcoin 
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“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.
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