Among the participants of the round are Polychain Capital, GD10 Ventures, Vectr Ventures, Coinko and other investors. Thus, the attracted financing brought ORIGYN’s market valuation to $300 million.
The project uses non-fungible tokens (NFTs) as digital certificates to identify and authenticate physical and digital luxury goods. ORIGYN claims to use both blockchain technology and artificial intelligence (AI) in its solutions.
Digital certificates will be available in the first half of 2022
Daniel Haudenschild, CEO of The ORIGYN Foundation, believes that pairing physical goods with digital certificates is “the next evolution of NFTs”. The company provides the benefits of transparent authentication and ownership of digital objects for a number of industries. “NFT is not just digital images, and we are pleased to demonstrate what is really possible with this technology,” he told in the interview to The Block.
ORIGYN will use the funds raised in this round to expand and improve its services, attract new partners, finance research and development. The digital certificates will be available in the first half of 2022, according to them.
Moreover, the organization has attracted funding against the background of the preparation of the launch of the service token. The OGY coin will become a native token of the project, necessary for interaction with its services.
Support for DeFi project
Earlier in August, Table Management took part in a $20 million investment round for the Syndicate decentralized finance (DeFi) project.
Furthermore, the team promised to use the funds raised to accelerate the development of technologies based on a decentralized autonomous organization, integration with Web3 projects and fintech startups. As well as to support various communities.
“Over the next decade, investing will be decentralized, democratized and managed by the community. Syndicate is creating an infrastructure that allows you to scale this,” the report said.