The Avalanche Foundation is allocating up to $50 million to purchase tokenized assets created on the tier-1 blockchain.
The Avalanche Foundation is allocating up to $50 million to purchase tokenized assets created on the layer-1 blockchain, the company told TechCrunch privately. Initiative Avalanche Vista aims to highlight the value of tokenization in different industries such as equity, credit, real estate and commodities.
Opinions on tokenizing activities were expressed
Tokenization is the process of creating a digital representation of a real world asset (RWA) on a blockchain. “It creates a faster and more efficient way for companies to issue assets, for individuals to own them, and for everyone to transfer value,” John Wu, president of Ava Labs, the company that created Avalanche, told TechCrunch.
This isn’t the company’s first rodeo in asset determination. In September, KKR, one of the largest investment management firms in the US, tokenized a portion of its private equity fund on Avalanche’s blockchain through digital asset securities firm Securitize.
“Our mission is to tokenize the world’s assets,” Wu said. “Vista is the next indicator of our commitment to do just that. It’s not just the dollar, it’s the commitment to helping web2 players work with us and explain tokenization.” made statements as
56245
