According to CryptoPotato, Blocksquare, a real-world asset (RWA) tokenization protocol, has tokenized $100 million worth of real estate properties on its platform. This coincides with the launch of Blocksquare’s decentralized finance launchpad, Oceanpoint v0.5, which aims to support real estate tokenization startups. The tokenized assets include 118 properties such as restaurants, hotels, healthcare facilities, apartments, and parking lots across more than 21 countries.
Blocksquare attributes its success to its legal structure, which is recognized by the notarization of a tokenized real estate transaction on the European land registry. In September 2023, the company achieved a significant milestone by executing the world’s first notarized tokenization of a real estate property and integrating it with the Slovenian land registry. This achievement unlocked the protocol’s access to an estimated $16 trillion market potential.
With the launch of Blocksquare’s Oceanpoint ecosystem, users can stake the protocol’s utility token, BST, or convert it to the governance token sBST. The company stated that Oceanpoint adds an additional layer to its already established protocol, creating access to real estate financing for anyone with internet access.
Market participants can use BST and sBST to earn rewards while supporting tokenization marketplace operators with potential. Blocksquare’s launchpad initiative offers RWA tokenization startups up to 100% discount on its software-as-a-service (SaaS) solutions, providing them an opportunity to launch and grow their ventures.
Denis Petrovcic, Blocksquare co-founder and CEO, said that tokenizing RWAs like real estate holds immense value for creating a bridge to invest in traditional assets. He added that their team, marketplace partners, and BST holder community are driving a revolution in real estate through democratized investment.
Blocksquare also stated that its marketplace pools provide a democratized pathway for operators and community members to engage and grow within the ecosystem.