The decentralized finance (DeFi) sector is booming and one of the most promising startups in this space is PWN, a platform that allows users to borrow and lend crypto assets using smart contracts. pwn has recently announced that it has raised $2 million in a seed funding round led by some of the most prominent investors in the crypto industry, such as Coinbase Ventures, Pantera Capital, and Polychain Capital.
PWN aims to disrupt the traditional mortgage industry by offering a more transparent, efficient, and accessible way of financing real estate. Users can use their crypto assets as collateral to borrow stablecoins, which they can then use to pay for their property. Alternatively, users can also lend their stablecoins to other borrowers and earn interest. PWN leverages blockchain technology to ensure that the transactions are secure, fast, and verifiable.
PWN’s founder and CEO, Alice Smith, said that the funding will help the startup to scale its platform and reach more users across the globe. She also said that PWN has a vision of creating a more inclusive and fair financial system that empowers people to own their homes without intermediaries or barriers.
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“We are thrilled to have the support of such reputable investors who share our vision of democratizing access to real estate financing. With PWN, anyone can use their crypto assets to get a mortgage or earn passive income by lending. We believe that this is the future of finance, and we are excited to be part of it,” Smith said.
PWN is currently in beta testing and plans to launch its mainnet in Q4 2023. The platform supports various crypto assets, such as Bitcoin, Ethereum, USDC, DAI, and more. PWN also has a native token, PWN, which is used for governance and incentives. Users can stake PWN to participate in the platform’s decision-making process and earn rewards.
PWN is one of the first DeFi platforms to focus on the mortgage market, which is estimated to be worth over $30 trillion globally. By leveraging the power of DeFi, PWN hopes to create a more open and efficient way of financing real estate that benefits both borrowers and lenders.
Coinfund to back Early Crypto Startups with with fresh $158 million
CoinFund, a leading crypto asset investment firm, announced today that it has raised $158 million for its third fund, which will focus on early-stage startups in the blockchain and decentralized web space. The fund, dubbed CoinFund III, was oversubscribed and attracted institutional investors, family offices, and high-net-worth individuals from around the world.
CoinFund was founded in 2015 by Jake Brukhman, a former software engineer and tech entrepreneur, who saw the potential of crypto assets as a new asset class that could enable novel business models and social coordination mechanisms. CoinFund has since invested in over 100 projects across various sectors, such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, social media, infrastructure, and more.
Some of the notable portfolio companies of CoinFund include Rarible, a leading NFT marketplace; The Graph, a decentralized protocol for indexing and querying blockchain data; Livepeer, a decentralized video streaming network; and Audius, a decentralized music streaming platform.
CoinFund III will continue to support innovative and visionary founders who are building the next generation of decentralized applications and platforms. The fund will also leverage CoinFund’s extensive network and expertise in the crypto space to provide strategic guidance and operational support to its portfolio companies.
Brukhman said in a press release: “We are incredibly grateful to our investors for their support and trust in our team and vision. CoinFund III is a testament to our conviction in the long-term potential of crypto assets and the decentralized web. We believe that this technology will have a profound impact on the future of the internet and society at large, and we are excited to partner with the best entrepreneurs who are driving this transformation.”