San Francisco, Calif., Aug. 16, 2022 (GLOBE NEWSWIRE) — Ovenue Inc., a leading provider of advanced real asset valuation and financing technology solutions for B2B and financial institutions, announced today the acquisition of Irident, including its software and intellectual property (IP). Irident provides an artificial intelligence (AI) enabled portfolio management engine and asset analytics platform to improve asset management and valuation. Irident Inc.’s technology includes deep learning capability to organize lakes of fundamental, environmental, social and governance (ESG), proprietary and other metrics to drive investment performance, including asset valuation .
By integrating predictive analytics and asset management capabilities along with proprietary and third-party data sources and solutions, Ovenue plans to improve the fidelity of the real-world asset valuation and tokenization experience for his clients. AI and machine learning software have been shown to increase assessment accuracy by up to 6 dB. Irident sees this as the cornerstone of the offering, leveraging an expected $1.4T AI market by the end of the decade.
Ovenue has launched an AI- and blockchain-enabled valuation and funding infrastructure with over $100 million in tokenized assets (TAV), including franchise agreements, real estate portfolios and science patents. life. The platform consists of an asset pricing and tokenization layer, as well as an asset-backed token marketplace (non-fungible tokens) for transactions, and a funding protocol for borrowing and lend against these assets.
As a testament to its capabilities, the entire transaction is orchestrated on Ovenue’s real-world asset valuation and tokenization platform. This is further validation of the applicability of NFTs for the tokenization of intellectual property and the use of the market to complete the transfer of ownership between parties.
“We are very excited about enhancing our AI capabilities and welcome senior management at Irident to the Ovenue family,” said Ram Shanmugam, CEO and Co-Founder of Ovenue. “Together, we will continue to elevate the valuation and monetization of real-world assets for our customers and partners by fostering trust, removing friction from multi-party transactions, improving data management and accelerating transaction speeds, all enabled by AI and blockchain technologies, which are at the heart of Ovenue’s tech stack.”
Cynthia Steer and John Nawrocki, President and Vice President of Irident Inc., respectively, said, “We are delighted to partner with Ovenue and their remarkable team. By sharing a unique vision and a sharp focus on execution, we are determined to help maximize the value of this synergistic combination.
With Ovenue, asset owners can transform real-world assets into digital asset-backed products that can be licensed, sold, and collateralized through a proprietary, end-to-end asset valuation, tokenization, and monetization platform. real world assets. Enhancing Ovenue’s platform with advanced AI capabilities will drive operational and valuation efficiencies for businesses and financial institutions.
About Ovenue Inc.
Ovenue’s AI and blockchain platform provides asset owners and businesses with an end-to-end solution to value, tokenize and monetize their real-world assets. Ovenue’s open-API protocol connects these assets to pools of liquidity, allowing borrowing and lending against collateralized real assets.
About Irident Inc.
Irident Inc. harnesses massive computing power and the latest cross-domain deep learning techniques to perform fundamental equity analysis at a level and scope not possible with teams of research analysts. The Deep InsightSM engine analyzes and connects hundreds of fundamental, ESG, macroeconomic and other data points to arrive at a uniquely rich and predictive perspective for each stock analyzed. The resulting platform is rich in actionable insights into individual stocks and provides an adaptive, finely tuned and customizable portfolio management model.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
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