By: Tim Hakki
Hilton hotel heiress Paris Hilton joined a $20 million funding round in the Swiss nonprofit project Origyn Foundation.
Participants in the latest round include legendary investor Bill Ackman’s hedge fund Table Management and crypto investment firm Polychain Capital, all of whom brought Origyn’s new valuation to $300 million.
Origyn runs on Dfinity’s Internet Computer Project and uses artificial intelligence to enable smartphone users to authenticate and tokenize both physical and digital assets.
The money raised in this investment round will fund research and development ahead of the launch of Origyn’s OGY token next year. OGY will serve as the platform’s native utility token, guaranteeing its NFT certificates and enabling holders to partake in the governance of the platform.
“NFTs are a way to innovate, empower others and push the boundaries of how artists interact with their fans,” Hilton said in a prepared statement. “The ORIGYN Foundation is leading the charge by putting power in the hands of artists, creators, creatives and collectors, which I am proud to be part of.”
Paris Hilton’s NFT love
Hilton’s forays into crypto first started last year, when she auctioned off a portrait she drew of her cat through celebrity NFT auction house Cryptograph.
The piece sold for 40 ETH, or about $17,000 at the time
Money raised from the sale went to three charities to feed and house vulnerable people: Los Angeles Regional Food Bank, Meals on Wheels, and Backpack Bed for Homeless – a charity that makes collapsible “backpack” beds for rough sleepers.
In April this year, Hilton collaborated with designer Blake Kathryn to launch an NFT collection on Nifty Gateway called “Planet Paris.” The drop raked in over a million dollars in crypto.
This summer, Hilton announced that she had joined Origin – an Ethereum-based e-commerce platform specializing in NFTs and DeFi – as an investor and an advisor. Despite the similarities in name, Origin and Origyn Foundation are two separate entities.
And last month, the American socialite shared a curated art collection on Sotheby’s Metaverse. The collection includes work from buzzy NFT artists Maalavidaa, Serwah Attafuah, and Chelsea Evenstar.
Paris Hilton’s entry into the world of NFTs is a far cry from her blue-collar experiments in The Simple Life. It’ll be anyone’s guess what she’ll tokenize when Origyn launches. Some Conrad Hilton memorabilia, perhaps? Or maybe her chihuahua?
Original article: https://decrypt.co/86677/paris-hilton-joins-20m-investment-in-nft-platform-origyn