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Pandora raises $2.4M from industry heavyweights to bridge off-Chain assets to open finance via NFTs

Pandora Raises $2.4M From Industry Heavyweights to Bridge off-Chain Assets to Open Finance via NFTs

press release

PRESS REELEASE. Pandora Finance (https://pandora.finance/) announced that they have successfully closed their $2.4m seed round. The Pandora team received pledges of some of the most prominent investors in the crypto space and closed the round exceedingly oversubscribed by manifolds.

Overview of strategic investors

The funding round ended with Pandora choosing some of the most respected investors in the crypto space. Pandora’s strategic investors include Genesis Block, Spark Digital Assets, AU21, x21, NGC, Zokyo Ventures, Exnetwork, A195, Protocol Ventures, Genblock, Magnus Capital, Chain Asset Capital, Amesten, Crypto Dorm Fund and Master Ventures and accredited individual investors like Danish Chaudhari (Bitcoin.com Exchange) and others.

“GBV has been following the NFT developments closely. Pandora offers a unique and innovative way to provide liquidity for the NFT ecosystem. This represents a major breakthrough in the potential use cases for NFTs!”

— Leslie Tam is a Genesis Block Ventures Partner and Co-Founder.

“We are excited to partner with Pandora as they create greater interoperability and liquidity for traditionally illiquid assets, and introduce new exposure opportunities onto the blockchain. Pandora’s clever integration of NFT technology, comprehensive suite of product offerings, and their stellar team position them favorably to succeed in their mission to bridge the divide between digital and physical assets.”

AU21 (https://au21.capital/)

Overview

Pandora Protocol is a hybrid Open Finance solution for problems faced by both traditional finance, and decentralised finance. This protocol creates a bridge between on-chain and real-world assets. It allows tokenization of illiquid asset – which means they can be found and traded in a secure, centralised way.

NFTs have been increasingly popular over the last 12 months; however, the lack of liquidity has been a growing concern for many. Pandora’s middleware solution instills liquidity in any NFT ecosystem. This can be in the form tokenized real-world assets or digital asset NFT’s. Pandora has significant advantages over other marketplace technology platforms because they don’t compete with other NFT platforms for liquidity. Instead, Pandora is helping other platforms grow by inducing liquidity.

This technology is at the core of Pandora protocol’s future success. Imagine a marketplace that allows real-world and digitally native assets to find liquidity, pricing accuracy, and is continuously updated with the latest on-chain data. This would make the NFT space more useful and practical. It also allows them to be traded, borrowed, or swapped.

What is coming up next for Pandora

Pandora is currently developing a new standard called PiNFT. This will allow real-world assets to have liquidity in the marketplace. This hybrid standard has both fungible as non-fungible functionality. It works by wrapping NFTs around something of intrinsic value, such as DAI. This token can be traded on Uniswap Maker, AAVE and AAVE – allowing NFT cross-chain trading on a wide range of platforms.

Looking ahead to the remainder of 2021, the Pandora team will be continuing to improve the product and establish even more partnerships to grow the protocol’s effective reach. The Pandora team is preparing for their IDO (Initial DEX Offer).

“We at Pandora are envisioned with bridging the gap between on-chain and real-world assets via NFTs. Our team with driven forces is all geared up to revolutionise the NFT ecosystem by maximising its potential and bringing liquidity to the world of latent illiquid assets”.

– Pushkar Vohra, Founder & CEO – Pandora Finance

About Pandora

Pandora creates a bridge between on-chain and real-world assets to form an open finance ecosystem. This protocol allows the tokenization and ownership of illiquid assets. They can be traded, borrowed, bought, and sold in a safe, decentralized manner. Pandora is a middleware solution that allows you to mint liquidity-enabled NFTs. Dapp developers have the option to use Pandora to provide liquidity for their NFTs.

Website: http://www.pandora.finance/

Twitter: https://twitter.com/PandoraProtocol

Medium: https://medium.com/pandoraprotocol

LinkedIn: https://linkedin.com/company/pandoraprotocol

Telegram Official Group: https://t.me/PandoraProtocol


This is a press release. Before taking any action related to the promoted company, or any of its affiliates, or services, readers should do their due diligence. Bitcoin.com does not assume any responsibility for any loss or damage caused by the content, goods, or services mentioned in this press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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