By Zeus
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Core idea: “Tokenized real estate” is not one thing. The token can represent equity, cash flow, debt, or access.
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If you’ve been following my writing for a while, you’ll know I don’t do one sided takes. Tokenization isn’t all sunshine and rainbows. There are obvious risks, structural weaknesses, and bad incentives that come with putting real world assets onchain.
That said, do I believe tokenization is the future? Yeah. But conviction doesn’t mean blind faith, and being bullish doesn’t mean every tokenized asset deserves to exist.
The goal isn’t to rush everything onchain. It’s to do it properly, or not at all.
Real estate isn’t niche. It’s the largest asset class in the world, measured in the hundreds of trillions. That scale is exactly why tokenization matters here, and why doing it badly is dangerous.
When most people hear “tokenized real estate,” they imagine a building split into digital shares so anyone can buy a small piece. That picture isn’t wrong, but it’s only one part of a bigger story.
Real estate tokenization isn’t one product. It’s a design choice.
The real decision is:
Which part of the process or asset do you want the token to represent?
A token can represent: