ORIGYN Foundation has raised $20 million in strategic funding at a $300 million valuation. Backers included Bill Ackman’s Table Management, Polychain Capital, Coinko, Vectr Venture and celebrity Paris Hilton.
- Founded in 2020, ORIGYN is a Swiss nonprofit that uses blockchain technology and artificial intelligence to create NFTs used as digital certificates to authenticate physical and digital goods. The foundation currently operates across four verticals covering fine art, collectibles, luxury items and digital media. The first three verticals relate to physical products.
- Funding from the round will help ORIGYN expand and improve its verticals, onboard partners to the ecosystem and fund ongoing research and development efforts.
- “[The funding is] a sign of support for what ORIGYN is trying to achieve – using technology to solve for identity, authenticity and proof of ownership,” said Daniel Haudenschild, CEO of ORIGYN’s operating entity, in the press release.
- ORIGYN will launch the digital certificates across its verticals during the first half of 2022. The foundation’s utility token, OGY, will also become publicly tradable next year. The company says the token is necessary to engage with the core services of the platform and is used to create and transact the certificates.
