Pandora Finance, a decentralized platform for NFT-backed real-earth assets, recently completed a multi-meg dollar seed round backed by some of the biggest venture capital firms in the blockchain space. In an exclusive interview with Cointelegraph, CEO Pushkar Vohra outlined his visitor's vision — namely, how Pandora Finance aims to create a bridge betwixt the illiquid world of real-earth assets and the blockchain.

Vohra believes the gap between these 2 domains represents ane of the biggest adoption challenges for decentralized technologies. "Nosotros are uniquely positioned to solve the biggest problem," he said, adding:

"At that place are around $300 trillion of existent-globe assets which are illiquid. Pandora's vision is to bridge those off-chain assets to the on-chain ecosystem with an effective business organization model."

Pandora's business concern model revolves around the tokenization of illiquid assets, which would let them to exist traded and owned in a secure, decentralized style. This process is accomplished through a middleware solution based around nonfungible tokens, or NFTs. Instead of competing with other NFT marketplaces for liquidity, Pandora's vision is to assist those marketplaces grow by providing more liquidity.

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There's nonetheless a lot of work to be done earlier traditional finance — and the trillions of dollars siloed at that place — tin embrace decentralization's promise of open finance. A lack of innovation and decades-former legacy systems may prevent traditional financial markets from making the transition.

Vohra touted his firm's piNFT tool equally a way to bring liquidity to real-world assets, something he considers to be essential for open finance to flourish:

"We at Pandora are working on fueling open up finance adoption more than and more with our latest innovation."

He continued:

"There are many assets that our traditional financial institutions do not recognize. There is centralization around decisions when information technology comes to classifying the avails and trading them. Pandora will help terminate-users to expand the horizon of recognizing real-world assets and inducing liquidity in them via piNFT."

Pandora'due south $2.4 million seed enhance, which was completed in May, had participation from at to the lowest degree xv organizations and several other angel investors. Genesis Cake, AU21 Majuscule, Spark Digital and Protocol Ventures were among the participants.