Republic, a company focused on real-world asset (RWA) tokenization, is set to tokenize equity in the prominent Hong Kong-based Web3 investment firm Animoca Brands.
In a Tuesday Republic announcement, it was revealed that Animoca Brands’ equity will be tokenized on Solana, enhancing investor access to the company. Although Animoca is not publicly listed, it has invested in over 600 Web3 projects.
Andrew Durgee, co-CEO of Republic, remarked that this initiative sets “a precedent for how companies can structure their equity for the future.” Lily Liu, president of the Solana Foundation, remarked that this move “showcases what internet capital markets make possible,” granting retail investors access to opportunities previously limited to private markets.
The tokenized equity will be created on Solana and subsequently distributed to the wallets of participating investors, enabling trading through 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 seeing burgeoning interest in real-world assets, a niche gaining traction. This initiative by Animoca Brands aligns with a research paper from the company indicating that tokenized real-world assets could eventually represent trillions in traditional finance.
Last week, major crypto investment firms BlackRock and VanEck further interconnected with the crypto economy through tokenized funds that incorporated the Ripple USD stablecoin as an off-ramp. Additionally, Forward Industries, a Nasdaq-listed firm with the largest corporate Solana treasury, announced plans to introduce its own equity to the blockchain.
Related: Animoca and Standard Chartered form stablecoin venture in Hong Kong
Animoca Brands’ Expansion Efforts
Animoca Brands seems to be using this initiative to secure more capital for its operations, following a period of aggressive and capital-heavy expansion.
Recently, Animoca Brands participated in a $6.9 million funding round for the decentralized science platform Bio Protocol. Furthermore, the company’s metaverse-focused subsidiary, The Sandbox (SAND), is reportedly undergoing a restructuring of its operations.
Additionally, Animoca Brands has partnered with Antler’s corporate innovation arm, Ibex Japan, to establish a dedicated Web3 entertainment investment fund.
Magazine: Thailand’s ‘Big Secret’ crypto hack, Chinese developer’s RWA tokens: Asia Express
