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ORIGYN Foundation backed by Paris Hilton raises $20 million
The ORIGYN Foundation, a nonprofit organization, based in Switzerland, has completed a $20 million strategic capital raise.
The raise brings the foundation to a $300 million valuation
The foundation has raised $20 million backed by Bill Ackman's Table Management, Polychain Capital, and American singer and media personality Paris Hilton. Other investors include GD10 Ventures, Vectr Ventures, Jason Ma, Div Turakhia, Carter Reum, and Coinko. The capital raise brings the foundation to a $300 million valuation."Bridging physical goods with digital certificates is the next evolution of NFTs. ORIGYN is bringing the benefits of a clear record of authenticity and ownerships to digital objects in a number of different industries. NFTs are more than just digital images, and we're excited to show the world what is truly possible with this technology," said Daniel Haudenschild, CEO of the ORIGYN Foundation.
What is the ORIGYN Foundation?
ORIGYN uses non-fungible tokens (NFTs) as digital certificates to identify and authenticate physical and digital luxury goods. The foundation says it uses blockchain and artificial intelligence to develop its NFT-based authentication system. The foundation hopes to leverage this technology by, for example, adding an NFT certificate to a luxury watch which represents the future of ownership across all market segments.Currently, ORIGYN is preparing to launch its OGY token, which will be available to the public in March next year. OGY will serve as the project's native utility token needed to interact with the services that ORIGYN offers, including the creation of authentication certificates.
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