Several real estate projects, which should rightfully have been tokenized, have instead been fractionalized and represented by a set of uniquely numbered NFTs. After all, it is a way to represent property rights with tokens and, in many cases, it will most likely provide a security (even though the NFT community currently ignores this). As a way to cope, some members of the tokenization community have adopted NFTs into the narrative of security tokens. Even the most fanatical supporter of security tokens will have to admit that NFTs currently sell out better than many security tokens. We are all expecting millennials to increasingly adopt crypto and longer-term security tokens but, while my teenage daughters know nothing about security tokens and find the concept utterly boring, they actually have heard of NFTs - and not through me (the house specialist)!Įven if, from an industry perspective, NFTs really don’t offer much that’s new, they cannot be overlooked from a marketing perspective. However, our hostility has slowly worn down and we have been forced to consider, multiple times, whether there is actually real value in the concept of NFTs and whether they can in some way enrich the security token ecosystem. With a security token, there would be no (or certainly less) uncertainty or risk of legal implications in the future. These tokens are securities and fully regulated, by definition. Up until now, we have scoffed at the concept and attempted to dissuade these confused clients from using NFTs, and instead to use regulated and compliant security tokens for their projects.
but, surprisingly (or perhaps not so surprisingly), we are receiving more and more requests to represent real assets with NFTs! My company, DigiShares, gets many inbound requests every week from asset managers and real estate developers, wanting to tokenize their assets in the regular and regulated manner. Fear and Loathing in the Tokenization IndustryĪs a respectable member of the highly compliant and regulated security token industry, it is annoying and frightening to see the explosion of interest in NFTs.
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