The Origyn Foundation’s non-fungible token (NFT) project revealed on Tuesday that the team obtained a strategic investment of $20 million from a diverse group of investors. Paris Hilton, the heiress of the Hilton hotel company, took part in the fundraising round, along with organizations such as Polychain Capital and Table Management.
NFT marketplaces and online platforms have experienced significant investment in the recent year, with venture capitalists and venture finance firms pouring millions of dollars into these ventures. On November 23, the non-profit NFT initiative Origyn Foundation, located in Switzerland, announced that it had received $20 million in funding from strategic investors. According to the release, the Origyn Foundation is worth roughly $300 million following the funding.
Bill Ackman’s Table Management, Polychain Capital, Coinko, Vectr Ventures, Carter Reum, Div Turakhia, and GD10 Ventures contributed to the private fundraising round. Paris Hilton, a well-known socialite and entrepreneur, also participated in the investment round. According to Origyn, the funding would assist the team in launching “verticals to market in the art, collectibles, digital media, and luxury sectors.”
Origyn is based on Dfinity’s Internet Computer protocol and is managed by founding partners and council members Gian Bochsler, Vincent Perriard, and Mike Schwartz, as well as CEO Daniel Haudenschild. Furthermore, the fund increase will support new industrial partners as well as research and development. Origyn Art, Origyn Collectibles, Origyn Digital Media, and Origyn Luxury are some of the industry verticals that the project operates in.
According to Daniel Haudenschild, CEO of Origyn Entreprise SA:
“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,”
Paris Hilton, an ardent supporter of Origyn, has long been interested in cryptocurrencies and non-fungible token (NFT) assets. During the first week of April, Paris Hilton stated that she was optimistic about the future of bitcoin and acknowledged that she was long on the cryptocurrency. Hilton offered a handful of her NFTs for sale on the new Sotheby’s Metaverse Marketplace at the end of October.