Avalanche (AVAX), a leading name in the tokenization industry, has taken a critical step for projects operating in this area in its network. The 50 million dollar investment news was followed by the rise in AVAX price.
$ 50 million Blockchain startup from Avalanche (AVAX): Avalanche Vista
The Avalanche Foundation is allocating up to $50 million in funding to purchase tokenized assets it hosts on the Tier-1 network. The startup in question, Avalanche Vista, aims to highlight the value of tokenization in different industries such as equity, credit, real estate, and commodities. In a nutshell, Avalanche announced a $50 million incentive program for its network’s tokenized assets.
Tokenization is the process of converting real-world assets or rights into digital tokens using smart contracts. These tokens represent the ownership or entitlements of the underlying asset. At the same time, blockchain can be transacted and managed directly.
The official blog post has the following about Avalanche Vista, which includes $50 million in funding:
Avalanche is allocating a $50 million fund for the acquisition of assets created on the Avalanche network (often referred to as “real world assets” or “off-chain assets”). This program, called Avalanche Vista, aims to support and demonstrate the value of asset tokenization. Tokenization is the process of creating a fast, scalable and customizable digital representation of an asset, object or thing on the Blockchain.
AVAX price moves
The AVAX price rose more than 4% after the Avalanche Vista announcement. During the same period, most altcoins, including BTC and ETH, were moving sideways. After the announcement, the AVAX price spiked up to $13.50 within hours. It is currently trading in the $13.40 region where it retains most of its gains.
Why is Avalanche Vista important?
On this subject, John Wu, president of Ava Labs, says:
It creates a faster and more efficient way for companies to issue assets, for individuals to own them, and for everyone to transfer value…
Our mission is to tokenize the world’s assets. Vista is the next indicator of our commitment to do just that. It’s not just dollars at stake, it’s a commitment to helping Web2 players work with us and explain tokenization.
According to a recent report, the most common types of tokenized assets today are stocks and real estate. Of the 41 central financial RWAs included in the report, 26 have their own tokenized market. Also, 30 of them support fractionalization of RWA. “The next generation for markets, the next generation for securities will be the tokenization of securities,” Blackrock CEO Larry Fink said in March. cryptocoin.com As we have reported, China-based investments came to the fore in July.
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