In Brief:
- ORIGYN raises $20M in a funding round valuing the platform at $300M.
- The funds will be utilized to expand and improve ORIGYN’s services.
- ORIGYN plans to launch the OGY token by the end of the first half of 2022.
The Swiss non-profit foundation ORIGYN raised $20 million in a strategic funding round valuing the platform at $300 million.
The investors of this round included Coinko, Paris Hilton, Vectr Ventures, Carter Reum, Div Turakhia, GD10 Ventures, Bill Ackman’s Table Management, Polychain Capital, and others.
The newly raised funds are to be utilized by ORIGYN to invest in research & development activities, expand and improve its services, gain new collaborators, and so on.
ORIGYN identifies and authenticates luxury physical and digital goods using NFTs as digital certificates. The platform’s verticals lie in art, collectibles, digital media, and luxury.
The foundation developed its NFT-based authentication system using both blockchain and artificial intelligence.
The fundraiser comes as ORIGYN prepares to launch its OGY token, which will be available to the general public by the end of the first half of 2022.
OGY will function as the platform’s native utility token, assuring its NFT certificates and letting holders participate in platform governance.
Daniel Haudenschild, CEO of ORIGYN Entreprise SA stated, “We’re incredibly fortunate and excited to include so many influential names in this funding round. ORIGYN is unique in what it brings to this world. It’s a sign of support for what ORIGYN is trying to achieve—using technology to solve for identity, authenticity, and proof of ownership. Our partners have seen the opportunity we provide to unlock value for owners and creators.”
NFT based platforms are actively trying to expand their ecosystem by holding fundraiser events. Recently NFT music platform Royal raised $55M in a Series A funding round led by a16z. The funds will be used to expand its system and invest in the growth of artists who sign up on the platform.
