Paris Hilton, a socialite, has expressed a strong interest in cryptocurrency, specifically Non-Fungible Tokens (NFTs). According to a news release, Hilton helped fund $20 million for the ORIGYN Foundation, a Swiss-based nonprofit organization dedicated to “unlocking the powers of ownership for valuable items.”
The firm is behind ORIGYN, a digital certification platform that runs on top of the Internet Computer. Collectibles, digital media, luxury items, art, and other asset types are supported by this platform. The project’s goal is to “bring NFTs to life using biometric data and one-of-a-kind ownership experiences.”
In addition to Paris Hilton, some of the greatest names in the crypto sector participated in the $20 million strategic fundraisings, including Coinko, Vectr Ventures, Carter Reum, Div Turakhia, GD10 Ventures, Bill Ackman, and others.
This event comes ahead of an upcoming token release planned to be distributed in 2022 alongside the project’s digital certificates and values ORIGYN at $300 million. The OGY token, which will be available for public trade next year, will be used by customers to access the platform’s “essential services” as well as “produce and exchange certificates of validity.”
According to the news announcement, the cash received will be used to support the “growth and continuing enhancement of ORIGYN’s verticals,” as determined by the community members who engage in their governance model.
In addition, the foundation intends to fund R&D activities and bring new partners into its ecosystem. On their latest increase, Daniel Haudenschild, CEO of ORIGYN Entreprise SA, stated:
We are really lucky and pleased to have so many significant personalities involved in this investment round. ORIGYN is one-of-a-kind in what it delivers to the globe. It’s a show of support for what ORIGYN is attempting to do by utilizing technology to tackle issues of identification, authenticity, and evidence of ownership.
Paris Hilton’s 2021 has been crypto and NFT year; the socialite has publicly supported this business after announcing that she has kept specific coins for numerous years. Hilton outlines her motives for her interest in digital assets in further depth in a post titled “I’m Excited About NFTs-You Should Be Too.”
In it, Hilton argues that the NFT sector has enabled her to “combine all of my creative hobbies,” and she refers to this emerging asset class as the “future of the creator economy.” Furthermore, Hilton identifies variables that will enable NFTs to transform several industries and generate a “mind-blowing” change for artists. Hilton wrote as follows:
I intend to spend heavily in NFTs, inventing, investing, and accumulating (…). Talented artists may use NFTs to contact audiences and possible customers without the need of an agency or distributor, who would charge a fee or take a part of the sale. Essentially, NFTs give artists more power, which is something I’m pleased to be a part of.
This comment is supported by her investment in ORIGYN, which demonstrates that the socialite has and will continue to bet on this business for the long run.
As of press time, Internet Computer (ICP) was trading at $41,91, with the daily chart showing sideways action.
