$10 Trillion Push to Tokenize Everything Gains Momentum
The $10 trillion push to tokenize everything is gaining momentum, but experts warn that it's not a quick get rich scheme. At the Blockchain Futurist Conference in Toronto, several executives pitched tokenized versions of real-world assets, including gold, life insurance policies, and billion-dollar office campuses.
David Lucatch, chairman of nGRND, sells tokens backed by gold that nobody will ever hold. The company buys rights to deposits verified under Canada's NI 43-101 geological reporting standard and tokenizes them at a discount of 10% of spot price.
Jay Rogers, CEO of Infineo, is doing the same for whole life insurance. His venture mints tokenized policies on the Provenance blockchain and plans to launch a stablecoin called LifeCoin backed by policy cash value.
Brian Esposito's company, Diamond Lake Minerals, is tokenizing real estate, including Skinwalker Ranch owned by Brandon Fugal, chairman of Colliers. Mitchell DiRaimondo of SteelWave Digital has signed a nonbinding agreement to tokenize parts of its portfolio.