Plume Network plans to tokenize about $1.25 billion of real-world assets by the fourth quarter.
token holders will be able to earn income from a range of assets, including #mining rights, solar farms and Medicaid claims, the company said in a statement.
Plume Network announced plans to tokenize about $1.25 billion worth of real-world assets, offering holders the opportunity to earn income in the process, the company said in a statement.
the goal is to tokenize assets such as.
solar farms, personal loans, Medicaid-backed accounts, and mining rights.
Plume Network intends to eventually tokenize $3 billion worth of assets, the spokesperson added.
Chris Yin, co-founder and CEO of Plume Network, said in a statement, Plume offers unique access to high-yielding private assets such as private credit, healthcare receivables and renewable energy. These assets have traditionally been out of reach for most investors.
The income-producing assets that Plume Network plans to tokenize include a $500 million Credbull private credit fund, a $300 million Plural Energy solar farm, certain oil and gas production rights and $120 million in Medicaid claims.
Medex CEO Shaq Penugonda said tokenizing Medicaid claims could solve the liquidity problem for healthcare providers, while Josh Chinnaswamy, CEO of Projective Finance, said Plume Network's plans for solar energy. He said it could solve the financing challenges facing the sector.
Gn Yin told The Block that #token holders will be able to.
access individual assets or combine them into different pools to create any type of index.
Plume Network isn't the only #blockchain startup aiming to tokenize real-world assets: in June, Berlin-based #Swarm Markets announced plans to offer individuals "NFTs-" representing ownership of physical gold.
This blockchain startup is a Layer 2 modular network that aims to tokenize real-world assets (RWAs) on the blockchain.
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