The Swiss nonprofit ORIGYN Foundation attracted strategic investments totaling $20 million in a round with the participation of billionaire Bill Ackman’s Table Management firm and celebrity Paris Hilton.
Polychain Capital, GD10 Ventures, Vectr Ventures and other investors were among the round participants.
The funding lifted ORIGYN’s valuation to $300 million.
The project uses non-fungible tokens (NFTs) as digital certificates for identifying and authenticating physical and digital luxury goods. ORIGYN says it uses both blockchain technology and artificial intelligence in its solutions.
“The pairing of physical goods with digital certificates is the next evolution of NFTs. ORIGYN provides the advantages of transparent authentication and ownership rights for digital objects across a range of industries. NFTs are not just digital images, and we are excited to demonstrate what is truly possible with this technology,” said The Block CEO ORIGYN Foundation Daniel Haudenschild.
The organization attracted funding amid preparations to launch a service token. The OGY token will become the project’s native token, necessary for interacting with its services.
Earlier, in August, Table Management participated in a $20 million investment round for the DeFi project Syndicate.