So far, the protocol dedicated for the real estate industry has tokenized 118 assets, including hotels, restaurants, parking lots, healthcare facilities, and apartments across more than 21 countries.
Oceanpoint v0.5 also supports real estate tokenization start-ups. Blocksquare’s utility token, BST, powers the Oceanpoint DeFi ecosystem, where users can stake BST and convert it into the governance token sBST.
This setup allows community members to support tokenization marketplace operators and earn rewards. The initiative also offers start-ups discounts on Blocksquare’s SaaS solutions to help them launch and grow their ventures.
Meanwhile, Marketplace Pools provide a platform for both marketplace operators and community members to engage within the ecosystem.
The concept of tokenizing various real-world assets has been around for many years, but recent advancements in blockchain regulation and institutional adoption have accelerated this process.
Blocksquare says its legal structure is validated by the first notarized tokenized real estate transaction on the EU land registry, which is a crucial element in its capability to perform secure on-chain operations.
This trend is clear in the efforts to tokenize assets like green bonds, as seen with Hong Kong and Societe Generale (OTC:SCGLY) earlier this year. Blocksquare made history by completing the world’s first notarized tokenization of a real estate property in September 2023.
Denis Petrovcic, Co-founder and CEO of Blocksquare, stated, “Tokenizing over $100 million in real estate assets across 21 countries highlights the potential of RWA tokenization in bridging investments in traditional assets.”
Blocksquare offers SaaS solutions for blockchain-based real estate tokenization to connect investors to real estate opportunities globally. Based in Ljubljana, Slovenia, Blocksquare’s platform enables the digitization of real estate assets, allowing properties to be tokenized and traded on the blockchain and supports the launch of online marketplaces.
Source: Cryptocurrency - investing.com
