Pastel is a purpose-built NFT blockchain and platform that aims to eliminate middlemen in collecting and trading rare digital assets. Founded in 2018 and emerging from stealth in early 2021, Pastel uses a native utility token (PSL) with deflationary mechanics to power on-chain transactions. Its core technology includes a deep-learning powered duplicate-detection system for assessing rarity across platforms and a proprietary native storage solution using RaptorQ fountain codes and the Kademlia protocol. The project offers open-source developer tools and encourages third parties to build white-label marketplaces or integrate features such as near-duplicate detection and NSFW validation. Pastel plans to launch the Pastel marketplace, release developer tools for enterprises and collaborative platforms, and further optimize its open-design for builders. The company announced a $5 million seed raise to fund development, marketplace launch, and product rollouts.

Total raised

$5M

Funding rounds

1

Latest round

Seed

Latest activity

Jul 2021