Unikbase Secures 2 Million Euros in Funding for Web3 Tokenization Services

02/22/2023 12:08 • Daily Digest • 105 views

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, announced on February 22 that it had successfully completed its financing round for 2 million euros led by Weber Investments. The company offers tokenization services for physical assets, creating a “digital passport” in the form of non-fungible tokens (NFTs) that certify the authenticity and ownership of such valuables. The company’s core market is in providing services for insurance companies that work with auction houses, suppliers of high-value commodities like second-hand antiques, and other life cycle offerings, including financing, storage, transportation, and resale.

The emerging field of Web3 tokenization is gaining traction as more industries look for ways to authenticate and streamline online transactions involving physical assets. Unikbase’s NFT-based service provides an immutable and secure layer of protection for physical assets that are both valuable and vulnerable. As the market for NFTs grows, the application of these tokens beyond digital art and gaming assets is proving to be a lucrative market.

Unikbase’s tokenization platform enables the creation of digital twins that can be loaded with data points, such as historical provenance or damage reports, so that buyers and sellers have a more detailed understanding of the asset’s history. The NFTs also include unique identifiers that can be linked to the physical asset, allowing for verification of ownership and transfer of title, with less risk of fraud. Insurance companies can more easily manage risk, and auction houses can increase transparency and facilitate faster transactions with the added layer of digital security that Unikbase provides.

The funding round led by Weber Investments shows that investors are interested in the potential of Unikbase’s tokenization platform. The funds will allow the company to expand its services to more markets and solidify its position as a leader in the tokenization space. As the Web3 industry grows, Unikbase and other similar companies will play a significant role in facilitating the adoption of digital assets and creating trusted networks for secure transactions.

In conclusion, Unikbase’s successful funding round shows the growing interest in Web3 tokenization platforms and highlights the market’s need for secure and trustworthy digital assets. By creating digital twins and embedding them with data loaded into NFTs, Unikbase provides a unique way to authenticate ownership and verify the authenticity of physical assets. The company’s services will undoubtedly help the insurance, auction, and other high-value commodity suppliers to streamline their operations and minimize risk.

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Unikbase Secures 2 Million Euros in Funding for Web3 Tokenization Services

Web3 startup Unikbase completed 2 million euro financing

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