Has Tokenization’s Moment Finally Come?

The idea that blockchain technology and native tokens can represent off-chain assets – financial securities such as stocks and bonds, or commercial rights such as trade receivables and fractionalized real estate or art – has been around for a while. The concept tends to find favor around market crash moments, when a public backlash arises against native crypto tokens like bitcoin and ether – as happened after the bursting of the initial coin offering bubble in 2018 and, now, in the post-FTX era. At such times, a mindset emerges that it’s more palatable to the mainstream to convert familiar, relatively stable, pre-regulated assets into blockchain-based digital assets than to bet on pure crypto.