On Tuesday, the Origyn Foundation, which is a non-fungible token (NFT) project, announced that the team had gotten a strategic investment worth $20 million from a number of investors. Paris Hilton, the Hilton hotel heiress, had also participated in the funding round, along with some other companies, such as Table Management and Polychain Capital. In the last year, there have been a significant amount of investments in NFT marketplaces as well as web platforms. Venture financing companies and venture capitalists appear to have poured millions of dollars in these projects. Origyn Foundation is a non-profit NFT project, which is based in Switzerland.
On November 23rd, the NFT project disclosed that it had received funding of about $20 million from strategic investors. The announcement dictated that after the funding round, the valuation of the NFT project had reached a total of $300 million, which is an impressive figure. Vectr Ventures, GD10 Ventures, Polychain Capital, Div Turakhia, Bill Ackman’s Table Management, Coinko and Carter Reum are some of the companies that financed the private funding round. Moreover, another individual who joined the funding round included the entrepreneur and popular socialite, Paris Hilton. According to the Origyn Foundation, this new funding would assist them in launching verticals to market in various sectors, such as digital media, collectibles, art and luxury.
The Internet Computer Protocol from Dfinity has been leveraged by Origyn and council members and founding partners are leading the project. These include Mike Schwartz, Vincent Perriard and Gian Bochsler, along with its chief executive, Daniel Haudenschild. In addition, the capital that has been raised in the funding round will also bolster the research and development team as well as the new industry partners. Industry verticals are operated by the project, which include Origyn Collectibles, Origyn Luxury, Origyn Digital Media and Origyn Art.
Origyn Enterprise SA’s CEO, Daniel Haudenschild made a statement and said that they were incredibly excited and fortunate to be able to have so many influential names participating in its funding round. He added that the protocol was unique in what it was bringing to the world and this funding was a way of supporting what it is trying to accomplish i.e. use technology to solve for proof of ownership, authenticity and identity. The Origyn executive went on to say that their partners had seen the opportunity they could offer when it comes to unlocking value for owners and creators.
Paris Hilton, the esteemed backer of the Origyn protocol, has had an interest in cryptocurrencies along with non-fungible tokens (NFTs) for quite a while now. Hilton stated in the first week of April that she was very excited about the future of the pioneer crypto Bitcoin and also confirmed that she planned on going long on cryptocurrencies. She also listed a couple of her NFTs for selling at the end of October on the newly established Sotheby’s Metaverse Marketplace. Now, she has decided to invest in the Origyn NFT project and this is another indication of her commitment to the crypto market in general.