Paris Hilton Backs $300 Million Swiss NFT Foundation

Published November 24th, 2021 - 09:00 GMT
Paris Hilton Backs $300 Million Swiss NFT Foundation
It's not Hilton's first investment in NFTs. (Shutterstock)

It seems that Paris Hilton's "obsession" with non-fungible tokens (NFTs) is growing, as she backs a $300 million NFT foundation that is promising to transform the digital art sphere.

Paris Hilton Origyn
Source: Twitter

The Switzerland-based non-profit NFT project, Origyn Foundation, offers smartphone users a way to authenticate physical works of art with digital certificates. 

According to the foundation's announcement, it has raised $20 million from investors including Paris Hilton and firms like Polychain Capital and Table Management.

Origyn leverages Dfinity’s Internet Computer protocol and the project is led by the founding partners and council members Gian Bochsler, Vincent Perriard and Mike Schwartz, and its CEO Daniel Haudenschild.

The capital raise will bolster new industry partners and research and development as well. The project operates industry verticals such as Origyn Art, Origyn Collectibles, Origyn Digital Media and Origyn Luxury.

"We’re incredibly fortunate and excited to include so many influential names in this funding round," Daniel Haudenschild the CEO of Origyn Entreprise SA said in a statement.

"Origyn is unique in what it brings to this world. It’s a sign of support for what Origyn is trying to achieve—using technology to solve for identity, authenticity, and proof of ownership. Our partners have seen the opportunity we provide to unlock value for owners and creators," the Origyn executive added.

Paris Hilton's Obsession with NFTs

In an email addressed to Bloomberg News, Hilton said: “I launched my first NFT drop in March 2020, and have been obsessed with NFTs and the never-ending possibilities of this technology ever since. NFTs are the future for creators, creatives and collectors, and this is just the beginning.”

It's worth noting that it's not Hilton's first investment in NFTs. In June, she announced backing Origin Protocol, a decentralized NFT platform, one of several NFT-related moves for the reality TV star.

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