Real-world asset (RWA) tokenization platform, Brickken, has announced its successful completion of a funding round, raising $2.5 million. This accomplishment boosts the company's valuation to $22.5 million, underlining the growing interest in blockchain's application in real estate and other tangible asset markets.
Brickken specializes in tokenizing real-world assets, a process that involves converting the rights to an asset into a digital token on a blockchain. This makes the asset more accessible, as it can be divided into smaller, cheaper units that can be bought and sold on a cryptocurrency exchange. The application of this technology in real estate could allow more people to invest in property markets, no matter where they are located or how much they have to invest.
With the funds raised, Brickken plans to expedite its project development and continue to grow its platform. The company aims to create a decentralized finance (DeFi) platform for tokenized real-world assets. The goal is to create a market where anyone can invest in any tangible asset, from real estate to art, using cryptocurrencies.
Tokenizing real-world assets has the potential to dramatically increase accessibility and liquidity in various markets. For example, someone could buy a small fraction of a property or a piece of art, which would otherwise be too expensive. This could allow a wider range of individuals to participate in these markets and potentially benefit from their growth.
The successful funding round of Brickken is a positive sign for the industry, indicating that investors see potential in the tokenization of real-world assets. As blockchain technology continues to evolve, it is expected to bring about significant changes in various industries, particularly in real estate and other tangible asset markets.