Tokenization

Tokenizing a Church: A Divine Mission

Monday. August 19 at 4:00 AM

1 min. read

A network of affiliated church groups known as the “Colorado House of Prayer” has tokenized their main chapel to acquire a $2.5 million building. Pastor Blake Bush, leading the initiative, felt guided by a higher power to utilize blockchain technology for their cause. The congregation, along with other church groups, had been renting the building from its owner, a local businessperson who also owns a car dealership. The 11,457-square-foot structure, named “Old Stone Church” for its stone exterior, was bought by the current owner in 2022 for $2.2 million. Bush and the Colorado House of Prayer group aim to buy it for $2.5 million. Inspired by a spiritual encounter, Bush proposed tokenizing the building, turning it into a digital asset on the blockchain that can be divided into shares. To fund the purchase, they introduced “Stone Coin,” linked to a real estate token on the Polymesh private blockchain. Seeking investors to reach their target, the project plans to offer token sales to non-parishioners in the future.

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Swift's Initiative Towards Digital Asset Adoption

Friday. September 13 at 5:30 PM

Swift, the financial messaging network facilitating international payments, is pushing for wider acceptance of digital assets and currencies, including regulated crypto assets. The aim is to allow network members to utilize their Swift connection for transactions involving traditional currencies and digital assets. Swift's announcement on Sept. 11 marked the progression to the next phase of this initiative following pilot programs. Collaborations with blockchain and crypto platforms, such as Chainlink, have been instrumental in this advancement. Swift is exploring the benefits of tokenization for its members amidst increasing competition from blockchain alternatives. The network's experiments in blockchain interoperability have demonstrated its ability to facilitate value transfers across public and private blockchains. Swift envisions real-world solutions by integrating traditional and emerging digital assets, aiming to enable seamless transactions for its members. Forecasts predict significant growth in the regulated digital asset market, with Swift positioning itself to capitalize on the tokenization trend for efficient asset transactions.

Tokenization

Transition from Vega Chain to Nebula Chain

Friday. September 13 at 9:00 AM

The Vega Chain and VEGA token are set to be closed following a community vote on Sep. 12. The decision, initially proposed in an Aug. 30 blog post, marks the end of the Alpha phase. The team acknowledged insights gained from the community on Vega's usage and the shortcomings of its original vision. With the approval of the proposal, the team will focus on a new project supporting a different token and chain. VEGA trading will cease, giving users two months to settle their accounts. The team, led by Barney Mannerings, plans to launch Nebula chain and NEB token to replace Vega. A token swap will be offered to VEGA holders, with 20% of assets allocated for the transition. A final governance vote will determine market price settlement and fund allocation for the Alpha mainnet during the offboarding period.

Tokenization

The Rise of Rexas Finance in the Crypto Market

Thursday. September 12 at 12:30 PM

Rexas Finance (RXS) is gaining attention in the competitive cryptocurrency landscape with its innovative approach to real-world asset tokenization. While established projects like Toncoin (TON) and Tron (TRX) have been popular, Rexas Finance is standing out by addressing tangible problems and offering real-world utility. By allowing users to tokenize assets like real estate and art, Rexas Finance is democratizing investment opportunities and providing liquidity to traditionally illiquid markets. The project's presale success, user-friendly platform, and focus on security through blockchain technology have attracted both retail and institutional investors. With a well-designed tokenomics model and a projected price increase during the presale, Rexas Finance is poised for significant growth. As the project continues to hit milestones, it is expected to become a key player in the crypto space, offering investors both short-term gains and long-term potential in asset management.

Tokenization

Tokenized Mineral Vault Launch by Plume Network Amid Rising Demand for Real-World Assets

Monday. September 9 at 11:00 PM

Plume Network, a blockchain specializing in real-world assets (RWA), is introducing a tokenized ‘Mineral Vault’ in response to the increasing interest in high-yielding private assets onchain. The Mineral Vault, developed by asset manager Allegiance Oil & Gas, represents tokenized mineral interests that generate royalty revenues from natural resource extraction. This initiative aims to offer financial exposure to resource production, including gold, silver, coal, crude oil, and natural gas in the United States. Tokenized RWAs currently hold a total value locked of nearly $12 billion and have the potential to become a $30-trillion market globally. Plume Network envisions creating an RWA-centric ecosystem called RWAfi to enhance real-world assets with crypto-like properties, enabling RWA tokens to be used as collateral for loans and other DeFi applications. The platform is still in its testnet phase, collaborating with Celestia for data availability.

Tokenization