Today, Pandora, an NFT based finance startup, announced that it raised $2.4 million in seed funding to bridge off-chain assets to open finance. A group of heavyweight industry veterans and blockchain enthusiasts led by Sean Ironstag and Alex Waters will now help Pandora develop and deploy NFT-based financial solutions.

In a recent interview, CEO Chris Eberle revealed that Pandora’s development team had just finished a successful test of an integration with a decentralized exchange (DEX) technology, next to a centralized exchange (CEX) and their own wallet. The team has now started to build the next generation of asset management capabilities and work on their platform to bridge off-chain assets to open finance, via Non-Fungible Tokens (NFTs), also called tokens on the NEO blockchain.

The Pandora music sharing application aims to provide a new peer-to-peer economy for digital assets on a decentralized blockchain protocol. The company claims to have raised $2.4 million in an all-or-nothing funding round from a who’s who of industry heavyweights, including the likes of Bitmain, Pantera Capital, Multicoin Capital, Polychain Capital, and others.. Read more about nft crypto stock and let us know what you think. Pandora Raises $2.4M From Industry Heavyweights to Bridge off-Chain Assets to Open Finance via NFTs – Press release Bitcoin News Press release PRESS RELEASE. Pandora Finance (https://pandora.finance/) announced the successful closing of a $2.4 million funding round. The Pandora team received pledges from some of the most visible investors in the cryptocurrency space and closed the round with several oversubscriptions. Overview of strategic investors The funding round eventually put Pandora in touch with 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, as well as accredited individual investors such as Danish Chaudhary (Bitcoin.com Exchange) and others. GBV closely follows the developments within NFT. With Pandora we find a unique and innovative solution to provide liquidity in the NFT ecosystem. This represents a major advance in NFT applications! – Leslie Tam, co-founder and partner of Genesis Block Ventures. We’re excited to partner with Pandora, which creates greater interoperability and liquidity for traditionally illiquid assets and introduces new disclosure opportunities on the blockchain. Pandora’s thoughtful integration of NFT technology, comprehensive product offerings and excellent team create the ideal environment to succeed in its mission to bridge the gap between digital and physical assets. – AU21 (https://au21.capital/) Overview The Pandora protocol is a hybrid and open financial solution that addresses the challenges of traditional and decentralized finance. By bridging the gap between real and chained assets, this protocol enables the tokenization of illiquid assets – meaning they can be found, traded and owned in a secure and decentralized manner. NFTs have become increasingly popular over the past 12 months, but the lack of liquidity is a growing concern for many. Pandora’s middleware solution creates liquidity in the NFT ecosystem for any NFT platform; it can take the form of tokenized real assets and digital NFT assets. Pandora offers significant advantages over other marketplace technologies because, rather than competing with other NFT platforms for liquidity, it helps other platforms grow simply by inducing liquidity on them. It is this technology that underlies the future value of the Pandora protocol. Imagine a marketplace where digital and real assets can find liquidity, accurate pricing and constantly updated channel data. This will make the NFT space significantly more useful and utilitarian and allow for trading, swapping or lending. What the future holds for Pandora In addition to opening up market liquidity to real assets, Pandora is currently working on a new single standard it has named PiNFT. This hybrid standard, which includes both redeemable and non-redeemable token functionality, works by wrapping the NFT around an intrinsic value element, such as the DAI. They can then be exchanged on Uniswap, Maker and AAVE, making it possible to perform NFT exchanges between channels on a wide range of platforms. Between now and the end of 2021, the Pandora team will continue to improve the product and forge even more partnerships to increase the effective coverage of the protocol. Meanwhile, the team behind Pandora is preparing for an IPO. At Pandora, we want to use NFT to bridge the gap between channel assets and those in the real world. Our crack team is poised to revolutionize the NFT ecosystem by maximizing its potential and bringing liquidity to the world of hidden illiquid assets. – Pushkar Vohra, Founder and CEO, Pandora Finance About Pandora. Pandora bridges blockchain and real assets to form an open financial ecosystem. This protocol enables the tokenization of illiquid assets, meaning they can be found, traded, borrowed and owned in a secure and decentralized manner. Pandora provides an intermediate solution for NFT mining with liquidity support and allows Dapp developers to use Pandora to offer NFT liquidity to their users. Website: http://www.pandora.finance/ Twitter: https://twitter.com/PandoraProtocol Support: https://medium.com/pandoraprotocol LinkedIn: https://linkedin.com/company/pandoraprotocol Official Telegram Group: https://t.me/PandoraProtocol This is a press release. Readers should exercise their own due diligence before taking any action with respect to the advertised company or any of its affiliates or services. Bitcoin.com shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services mentioned in the press release. Photo credit: Shutterstock, Pixabay, Wiki Commons

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