Unikbase Raises €2 Million to Expand Tokenization Service of Valuables
On February 22, it was reported that the Web3 start-up Unikbase completed the financing of 2 million euros led by Weber Investments. Unikbase provides the toke…
On February 22, it was reported that the Web3 start-up Unikbase completed the financing of 2 million euros led by Weber Investments. Unikbase provides the tokenization service of physical valuables, creates a “digital passport” for valuables in the form of NFT, and loads the digital twin data into the NFT token to provide “proof of authenticity and ownership”. It mainly caters to insurance companies dealing with auction houses, second-hand antiques and other high-value commodity suppliers, as well as other life cycle services, such as storage, transportation, financing and resale.
Web3 startup Unikbase completed 2 million euro financing
Interpretation of the news:
Unikbase, a Web3 start-up, has announced the completion of a 2 million euros funding round, led by Weber Investments. The company offers a unique tokenization service for physical valuables that creates a “digital passport” for each item in the form of an NFT. The NFT token contains digital twin data that provides proof of both authenticity and ownership of the physical asset.
Unikbase’s main target audience is insurance companies dealing with high-value commodity suppliers such as auction houses and antique dealers. Beyond tokenization, Unikbase also offers a range of life cycle services, including storage, transportation, financing and resale. This holistic approach aims to provide end-to-end valuations of valuables, adding a layer of transparency and protection to the process.
Tokenization of physical assets is the process of issuing a digital asset, such as an NFT, that represents ownership of a physical item. Tokenization has become increasingly popular among collectors of high-value items, such as art and rare documents. Blockchain technology enables the tracking of ownership, provenance and valuation of unique items, enhancing transparency and ultimately contributing to more accurate and fair market pricing.
Unikbase aims to become a leader in the field of tokenizing physical assets, tapping into the growing trend of tokenization alongside its related life cycle services. Insurance companies, in particular, will benefit from the transparency and immutability provided by blockchain technology, which can minimize the risk of fraud and disputes.
The funding round completed by Unikbase demonstrates the increasing demand for tokenization services and related technologies that enhance valuations of tangible assets. The use of NFTs as a type of digital passport provides an immutable record of ownership and other critical information for high-value assets.
In conclusion, Unikbase’s funding round validates not only the company’s approach to tokenization and life cycle management of valuables but also the wider trend of tokenization of physical assets. Valuation, transparency and ownership tracking are all essential factors that can be significantly enhanced by incorporating blockchain technology into asset management.
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