And so, I’ll take the under on the $30 trillion number.”Despite being an outlier in his predictions, Sonnenshein said he’s still bullish on RWAs, adding that his sentiment “doesn’t mean that tokenization isn’t here to stay.” Sonnenshein said that the space will still see a major explosion of investors who will see their wallets as not just a place for crypto speculation but also a “place that actually houses investments of theirs the way their brokerage accounts or investment accounts would as well.”Related: BlackRock’s BUIDL expands to Solana as tokenized money market fund nears $2BTokenization doesn’t “translate well” to representing real estate ownershipSonnenshein also questioned the viability of real estate as a primary use case for RWAs.
In January, local real estate developer Damac signed a $1 billion deal with RWA blockchain Mantra to tokenize real estate in the UAE. While some put their money on tokenized real estate, Sonnenshein cast doubt on the idea.“I’ll be the controversial one up here and just say I don’t think tokenization should have its eyes directly set on real estate,” he said during the panel. While the executive recognized the benefits of tokenizing real estate, he argued that this doesn’t translate well to representing ownership. “I’m sure there are all kinds of efficiencies that can be unlocked using blockchain technology to eliminate middlemen and escrow and all kinds of things in real estate.
Source: Paris Blockchain WeekSecuritize exec predicts a more conservative trajectory for RWAsSonnenshein, a former CEO of Grayscale Investments, said tokenized assets may not reach the $30 trillion mark.
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Author / Journalist: Cointelegraph by Ezra Reguerra
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