Pandora Finance, a platform that provides NFT-based decentralization of real-world assets, recently closed a multi-million dollar seed round backed by some of the largest venture capital firms in the blockchain space, Cointelegraph reported on June 16. In an exclusive interview with Cointelegraph, Pushkar Vohra, CEO of Pandora Finance, outlined the company’s vision of how Pandora Finance is bridging the gap between real-world assets and blockchain.
Vohra believes the gap between these two areas represents one of the biggest adoption challenges for decentralized technology. He said.
We are uniquely positioned to solve the biggest problem. In the real world, there are approximately $300 trillion in illiquid assets. pandora’s vision is to connect off-chain assets to the on-chain ecosystem with an effective business model.
Pandora’s business model revolves around the pass-through of illiquid assets, which will allow these assets to be traded and owned in a secure, decentralized way. This process is accomplished through a middleware solution based on non-homogenized tokens (NFT). pandora’s vision is to help these markets grow by providing more liquidity, rather than competing with other NFT financial markets for liquidity.
There is much work to be done before traditional finance (and the trillions of dollars housed there) can embrace the promise of decentralized open finance. A lack of innovation and a decades-old legacy system could prevent traditional financial markets from making the transition.
Vohra touts his company’s piNFT tool as a way to bring liquidity to real-world assets, which he sees as a necessary condition for open finance to flourish, saying
Pandora is increasingly driving the adoption of open finance through our latest innovations.
There are many assets that are not recognized by our traditional financial institutions. Decisions in classifying and trading assets are centralized. pandora will help end-users expand their horizons in identifying real-world assets and introduce liquidity into them through piNFT.
Pandora’s $2.4 million seed funding round closed in May of this year with participation from at least 15 institutions and several other angel investors. genesis Block, AU21 Capital, Spark Digital and Protocol Ventures all participated in the funding event.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/dedicated-to-integrating-off-chain-assets-into-the-on-chain-ecosystem-pandora-finance-closes-2-4-million-seed-round-of-funding/
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