Republic, a company specializing in tokenizing real-world assets (RWA), plans to tokenize equity in the prominent Hong Kong-based Web3 investment firm, Animoca Brands.
In a Tuesday announcement, Republic stated that Animoca Brands’ equity tokenization on Solana would provide broader access for investors. Although Animoca is not publicly listed, it has invested in over 600 Web3 projects.
Andrew Durgee, co-CEO of Republic, mentioned that this initiative exemplifies “a precedent for how companies can structure their equity for the future.” Lily Liu, president of the Solana Foundation, noted that this move “showcases what internet capital markets make possible,” granting retail investors access to opportunities typically reserved for private markets.
The release outlined that the tokenized equity will be minted on Solana and sent to the wallets of participating investors, enabling trading within Republic’s infrastructure.
Republic has not yet responded to a request for comment.
Related: Animoca launches NUVA marketplace to unify ‘fragmented’ RWA sector
Growing Interest in Real-World Assets
The cryptocurrency industry is witnessing increasing interest in real-world assets, a niche that continues to grow. Animoca Brands’ initiative aligns with a research paper from the firm indicating that tokenized real-world assets could ultimately equate to trillions in traditional finance assets.
Last week, tokenized funds from major crypto investment firms BlackRock and VanEck became more integrated with the crypto economy by adopting the Ripple USD stablecoin for off-ramp transactions. Additionally, a Nasdaq-listed company, which holds the largest corporate Solana treasury, announced plans to bring its own equity onto the blockchain.
Related: Animoca and Standard Chartered form stablecoin venture in Hong Kong
Animoca Brands Seeks Expansion
Animoca Brands is leveraging this initiative to secure additional capital for its operations, following its recent aggressive and capital-intensive growth strategy.
Earlier this month, Animoca Brands participated in a $6.9 million funding round for the decentralized science platform Bio Protocol. The company’s metaverse-focused subsidiary, The Sandbox (SAND), was reportedly restructuring its operations in late August.
Recently, Animoca Brands also joined forces with Antler’s corporate innovation arm, Ibex Japan, to establish a dedicated Web3 entertainment investment fund.
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