Finance & Stock Market
Asset Tokenization and DeFi for the Masses: The CEO of Giottus Reveals Crypto Trends That Could Be Big in 2024
By - 23 Jan 2024 04:10 PM
The Web3 space appears to be in a constant state of flux, with blockchain-based ideas emerging and disappearing on a daily basis. For example, the sales of non-fungible tokens (NFTs) fell to an all-time low last year, but the Ordinals subcategory of these digital collectibles was able to pique buyer interest once more. The CEO of the Giottus cryptocurrency exchange, Vikram Subburaj, provided a list of several Web3 trends that are anticipated to become popular in 2019 in an interview with Gadgets360.
According to Subburaj, the mass adoption of decentralized finance (DeFi) and real world assets (RWAs) is underway this year. Digital representations of tangible or conventional assets are generated on a blockchain network as tokens via RWAs. Each token represents a different attribute and represents a portion of the entity. Asset liquidity may rise as a result of tokenization. An owner of real estate, for example, might choose to sell 50,000 tokens of a tokenized real estate rather than the entire property and forfeiting its use as a livable space.
Consider them NFTs for items such as bonds, art, or even real estate. The tokenized RWA ecosystem that is currently accessible on-chain is estimated to be worth $2 billion, or approximately Rs. 17,452 crore, according to Subburaj. He also predicted that as more people become aware of the concept, tokenizing assets will likely pick up speed this year.
