Shaping an emerging token economy with Brickken: AMA recap
While real estate currently makes up the largest part of tokenization, Mata believes that as we move deeper into tokenization and the emergence of financial instruments 3.0, we’ll see more tokenization, especially in corporate equity.
According to Mata, tokenization, which could be seen as an evolution of financial instruments, is still very much in the building phase. “Right now, we’re trying to understand all the complex pieces that will shape the future token economy – financial instruments and markets, equity, tokenized money, the practice of self-wallets, self-custody and self-ownership.
The next step will be the transformation of all these parts that move on the blockchain, affecting everything from real estate to CBDCs. It can provide a level of optimization in financial mechanisms that has never been seen before. And in the end, we may have a new type of securities market”, he said.
Mata noted that institutions have become less fearful of tokenization in recent years. Due to updated regulations and growing evidence of its benefits, they are now more aware of the various aspects of the field and are eager to be part of the revolution, especially as more big-name funds and institutions come on board. “People are building now because they believe they are part of something that is stable, secure, legal, compliant and everything you need, especially in the case of financial instruments,” he added.
“We started Brickken because we wanted to tokenize real estate. We wanted to be a normative player in terms of how tokenization works,” Mata said in response to a question about Brickken’s roots. “But the more we got into the market, the more we understood that maybe the market didn’t need tokenization, it needed access to the technology itself. So that’s what turned us into what we’re doing now: providing the application to companies with all the tools and functionality so they can create, distribute and manage their digital assets and focus entirely on their business without having to change their core activities.”
The company’s product, Token Suite, provides an intuitive, compliant and efficient way into the world of digital assets. It is designed to cover the three main stages of the digital asset lifecycle – creation, distribution and management. Born out of the need to unify a fragmented market, it provides a step-by-step journey to help customers during asset creation. During the distribution phase, Token Suite enables clients to create a page for their assets, collect KYC details and ensure regulatory compliance. In the management phase, various tools are available to efficiently manage assets, investors and treasury.
“We want to democratize access to tokenization technology similar to what Shopify did for e-commerce and to ensure that companies using Token Suite have an all-in-one solution so they don’t have to worry about all the details. We believe that this way we can onboard Web2 companies and this has already taken place with Brickken”, said Mata. Currently Brickken is working across 11 jurisdictions with clients from various sectors including real estate, retail, startups, gaming infrastructure and more.
Partnerships are also an important part of Brickken’s strategy. With marketing expertise gained from Cointelegraph Accelerator program and technical collaboration with Chainlink’s BUILD program, the company has established over 70 service partnerships. “We want to provide not only tools, but also a service layer,” Mata noted. “A customer can go to our service marketplace, make a list of what they need, and get a perfect match.”
“The tokenization market is currently valued at $250 billion and is expected to reach $16.3 trillion by 2030. We hope that Brickken will grow alongside this market and secure its place in the tokenization space, eventually reaching unicorn status,” Mata said, summarizing the AMA.
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Crypto investors’ tax payment rates in 2022. Source: Divly