Avalanche Foundation’s $50M Asset Tokenization Scheme And Its Effects on AVAX
Adekunle Joshua
The Avalanche Foundation has disclosed it would allocate $50 million to promote tokenization on its blockchain.
The tokenization initiative “Avalanche Vista” shows how tokenization is vital in generating an on-chain digital portrayal of real-world assets like equity, credit and tangible asset.
An investment management firm, KKR, earlier tokenized some of its private equity fund on the Avalanche blockchain in September 2022.
Next, a tokenized assets marketplace, IntainMARKETS, was launched in January 2023.
John Wu, the president of Ava Labs, mentioned that the tokenization scheme aims to offer increased operational efficiency, accessibility to new users and enhanced liquidity.
AVAX experienced a downturn in its social activity last week. Its social media mentions and engagements dropped by almost 100%.