Ovenue Inc. which develops state-of-the-art deep technology solutions for valuation and financing of real-world assets for B2B and financial institutions, announces the launch of an artificial intelligence and blockchain-enabled valuation and financing infrastructure with 60 million assets under management. The new product is a decentralized market maker platform for transacting and lending against real-world assets, including intellectual property. The platform consists of an asset valuation, securitization, tokenization layer, an NFT marketplace for asset transactions, and a finance protocol for borrowing and lending against these assets.
“We are tremendously excited for the support Ovenue has been garnering from Web3 ecosystems, asset owners and managers, investors, institutional lenders, and the broader financial industry. Ovenue is revolutionizing the ability for individuals and SMEs to demonstrate and utilize the value of their assets to access liquidity and growth capital. We think that the Ovenue product will be used as a new backend for asset-backed financing and by those interacting with finance directly or indirectly”, commented Ram Shanmugam, CEO, and Co-founder of Ovenue.
Currently, such infrastructures are primarily for cryptocurrencies and on-chain digital assets. However, the value of off-chain real-world assets such as financial instruments, commodities, real estate, and intellectual properties globally is in the tens of trillions of dollars, with only a fraction being liquid. While NFTs and various decentralized products have been used to represent, transact and finance digital art, sports memorabilia, and even iconic tweets, the inception of an asset-backed infrastructure would usher in an era of unprecedented utility and value for blockchain finance. Moreover, it would have a transformative impact by creating a frictionless, automated, and accessible environment for trading and investing in these assets.
The Ovenue platform aims to be asset and blockchain agnostic. It provides an on-ramp for real-world assets to be licensed, sold, collateralized, or financed using Ovenue’s NFT marketplace and finance protocol. Digitizing assets in this manner requires addressing several technological challenges. “We are developing a robust and scalable solution combining customized token smart contracts, protocols, and oracles designed specifically to bridge the gap between the off-chain and on-chain worlds. Ovenue’s open API market maker will empower the developer and financial professional communities to create new applications for asset-backed financing and monetization,” said Dr. Muhammad Khan, Head of Technology and Cofounder of Ovenue.
Some asset classes would particularly benefit from the automation and market maker features offered by Ovenue. “Intangible assets such as brands, software, and data are great examples of highly valuable real-world assets that are illiquid in nature. Ovenue’s NFT marketplace and finance protocol would enable intangible asset owners to unlock the true value of these highly valuable assets. We are thrilled to be working with IP ecosystem partners, innovators, and trailblazers and, in doing so, bring the most valuable asset class in the world to the broader Web3 industry,” said Mason Darabi, Head of Commercialization and Cofounder of Ovenue.
Traditionally, institutional lenders and investors only take a senior position in financing transactions, which does not meet all the financing needs of the asset-owners. Ovenue can provide liquidity to fill this gap through its finance protocol by allowing a wide array of investors to participate with institutions. As such, Ovenue end-to-end solution will open up and democratize investment opportunities for the eligible global investors that were previously only available to a fraction of the finance community, including large financial institutions.
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