Web3 startup Unikbase completed 2 million euro financing

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.

Interpretation of this information:

On February 22nd, news broke that Unikbase, a Web3 start-up had just completed €2 million in financing led by Weber Investments. Unikbase offers the tokenization of physical valuables, allowing for the creation of a “digital passport” in the form of an NFT, which includes data about the item’s digital twin to provide “proof of authenticity and ownership.” The primary target customers are insurance companies dealing with auction houses and second-hand value suppliers. Unikbase offers a lifecycle service for these types of items, which includes storage, transportation, financing, and resale.

The significance of Unikbase’s financing announcement lies in the trend towards the tokenization of real-world assets. Blockchain technology is now seen as an incredibly efficient way of managing the ownership and transfer of assets. By transferring the title to assets onto digital tokens that are transparent, decentralized, and immutable, stakeholders can make faster, cheaper, and more secure purchases and transactions.

Unikbase’s innovative application of NFTs not only ensures authenticity and ownership but also offers an additional layer of flexibility and customizability. The digital passport allows for the attachment of other information related to the valuable beyond just proof of ownership. This additional information could include details of an item’s historical significance, cultural importance, or other factors that may impact its value.

The target customer for Unikbase is primarily the insurance industry, but they offer a suite of services that cover the entire lifecycle of high-value, unique items. This comprehensive offering is explicitly targeted at the world of auction houses and second-hand antiques. Given the rapid growth of the antique and art market, this is a savvy move, particularly since the market continues to trend towards using digital assets.