Pandora Finance has successfully raised $2.4 million for its seed funding round.
The investment round was participated by prominent investors within the crypto industry including Genesis Block, Spark Digital Assets, AU21, x21, NGC, Zokyo Ventures, Exnetwork, A195 and Protocol Ventures, as well as individual investors like Danish Chaudhari of Bitcoin.com Exchange and more.
Pandora Protocol is a hybrid Open Finance solution designed to help solve problems faced by both traditional finance and decentralized finance. This protocol enables the tokenization of illiquid assets — allowing the illiquid assets to be found, traded and owned in a secure, decentralized way — by creating a bridge between off-chain and on-chain assets.
“GBV has been following the NFT developments closely. In Pandora, we find a unique and innovative solution to bring liquidity to the NFT ecosystem. This represents a major breakthrough in the potential use cases for NFTs,” said Leslie Tam, Genesis Block Ventures Co-Founder and Partner.
Pandora is also working on a unique new hybrid standard called PiNFT, which has the functionality of both fungible and non-fungible tokens. PiNFT wraps NFTs around something with intrinsic value, like DAI. This can afterwards be traded on Uniswap, Maker and AAVE, allowing NFT cross-trade to happen on many platforms.