As a seasoned analyst with over two decades of experience in the finance industry, I find the rapid growth and evolution of tokenization startups like Plume Network truly fascinating. The recent $20 million funding round secured by Plume is yet another testament to the growing interest in tokenizing real-world assets.
The tokenization company, Plume Network, has secured a $20 million investment for expanding their platform that focuses on real-world asset management.
Based on a December 18th Fortune report, the investment round was primarily headed by Brevan Howard Digital, Haun Ventures, Lightspeed Faction, and Galaxy Ventures. Earlier investors in this start-up were SV Angels and Portal Ventures.
The financing comes after Plume’s test network debut in July, collaborating with Celestia. This innovative enterprise is creating a tokenization system where owners of tokenized properties can employ them as security for loans or to generate various income streams.
In September, the company debuted a ‘Tokenized Mineral Depository,’ which symbolizes ownership rights to minerals extracted from natural resources through sales, tokenized for convenience.
According to what was communicated to CryptoMoon, a representative from Plume explained that this new vault offers an opportunity for investors to have financial involvement in the creation of resources such as gold, silver, coal, and predominantly petroleum (crude oil) and natural gas.
180 different projects are reported to have chosen to develop on Plume’s infrastructure, among them being Credbull – a decentralized platform for private credit. In October, Credbull introduced a long-term fixed yield credit facility on the Plume blockchain, enabling borrowers to secure loans with consistent interest rates over an extended duration.
2024 could see multiple tokenization platforms receiving substantial investments, aiming to enhance the process of converting tangible assets into digital tokens. For instance, in May, Securitize, a digital securities platform, successfully secured $47 million in strategic funding, with BlackRock leading the round, to convert traditional assets into digital securities.
In June, ORA Protocol also secured $20 million in funding from investors such as Polychain, HF0, and Hashkey Capital. The protocol focuses on tokenizing artificial intelligence models onchain, enabling verifiable and traceable AI interactions.
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2024-12-18 19:33