Tokenization describes a concept of digitalizing real world assets or imaginatory worlds (meraverse) with the hope and purpose to transfer certain rights into this digital twins. The tokenization industry is still in an experimental stage and suffers under a plentafora of scams, bad actors, misconceptions and misunderstandings. Any investment is highly speculative and a total loss of the investment is a realistic opportunity.
The link and connection between digital twin and its real world counterpart is not backed by any "blockchain legislation". Since the number of digital twins is not limited by the physical reality, the legal implementation of blockchain technology in business and industry faces unforeseeable obstacles. As a consequence of modern artificial intelligence development, tokenization lost focus and significance for future ventures. The time for tokenization might be over before it seriously had started.
In a idealized brave new world, tokens would provide ownership of tokenized real-world assets as digital twins. NFTs would include rights of use and intellectual property. Smart contracts would be legally binding agreements. But the reality is different, and those who intentionally create fake impressions are trying to market their crypto garbage as treasure. Technical innovations such as cryptography, blockchain technology, and tokenization quickly find free riders. These are not the competitors who want to implement such products better or cheaper, but the bad actors who try to exploit and abuse the glossy hype around such innovations by their trash-in-trash-out concepts.
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The Bored Ape Yacht Club symbolizes the rise and fall of the NFT industry. It is an iconic showcase for its monkey business. With brand-new technological enhancements, the BAYC now has the power to heat up the unresolved intellectual property debate in the NFT world.
Gold tokens on the blockchain are a relatively new asset class, and there is a lot of uncertainty about whether they are digital gold or unfulfillable promises with concealed counterparty risks. Some previous market offerings failed. Are the new ones any different or are they fool's gold for crypto millionaires? Just as important, it needs to be understood that not all are created equal. There are good and bad, strong and weak tokenizations targeting the gold token buying markets.
Tokenization is the modern-day voodoo doll on the blockchain: The term voodoo doll commonly refers to an effigy used in magical-religious practice, which aims to connect spirits with mortals. These dolls are attached to humans by spiritual force, for example by weaving a person's strands of hair into the doll. This makes it possible to harness malevolent spirits to harm such a person. He or she can be controlled, especially hurt, by inserting needles into the doll's body. The concept rests on this voodoo doll being the material incarnation of a person.
Fractional ownership of real estate, a yacht, or any other trophy asset does not need a blockchain. There are battle-tested ownership structures that have been around long before blockchain technology was introduced into sales pitches. Before investing in a shiny real estate token, make sure the developer isn't just blockchainwashing, which means using blockchain technology for marketing purposes only, not because it makes sense for the investor.
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