Quick Take
ELOOP NETWORK launches a groundbreaking Machine Real World Asset (RWA) tokenization platform on peaq, revolutionizing how businesses represent their assets. By tokenizing machines like wind turbines and shared e-scooters, the platform enables access to liquidity and new revenue streams. With a focus on compliance and global scalability, ELOOP aims to raise $20 million in Machine RWA token sales in its first year.
ELOOP Network Launches Machine Real World Asset (RWA) Tokenization Platform on peaq: Opening New Avenues for Web3 Liquidity
In a significant move towards bridging the gap between the digital and physical worlds, ELOOP NETWORK has unveiled its Machine Real World Asset (RWA) tokenization platform on peaq. This groundbreaking initiative aims to revolutionize the way companies and communities interact with their assets, offering them an opportunity to represent a stake in the value generated by their machines through on-chain tokens.
The platform, spearheaded by ELOOP, is set to empower businesses and decentralized physical infrastructure networks (DePINs) by allowing them to tokenize rewards-generating machines, including wind turbines, WiFi hotspots, shared e-scooters, and more. These tokens will not only generate rewards for their holders based on the real-world value created by the underlying machines but also provide access to liquidity and unlock new revenue streams.
Nico Prugger, CEO and Co-founder of ELOOP, emphasized the platform’s ability to extend its proven model to benefit a wider spectrum of businesses and communities. According to Prugger, ELOOP’s tokenization platform is poised to empower companies by enabling them to maximize the utility of their assets. Additionally, it will facilitate access to liquidity, paving the way for projects aimed at enhancing livelihoods to flourish.
The emergence of real-world assets in the Web3 sector has been notable, with a total value locked (TVL) exceeding $4.3 billion, as reported by DeFi Llama. While tokenizing financial instruments like stocks has been common, the concept of Machine RWAs introduces a novel dimension, wherein tangible assets with revenue-generating potential become tokenized.
Till Wendler, co-founder of peaq, emphasized the transformative potential of Machine RWA tokenization, stating, “It can power all sorts of ambitious automation projects, from networks of delivery robots to solar panel arrays delivering green energy where it counts most.”
ELOOP’s pioneering efforts in this domain are exemplified by its successful project that tokenized vehicles in a car-sharing Tesla fleet in Vienna. With over €1.6 million raised without any marketing expenditure, this initiative demonstrated the viability of the model. Building upon this success, ELOOP is now expanding its scope by launching a Machine RWA tokenization platform on peaq.
The platform, currently being tested on krest, peaq’s canary network, will soon be launched on the peaq mainnet. It has already garnered interest from a diverse range of projects, including Dabba, a connectivity DePIN, a major energy provider, and players from the shared mobility sector.
The platform’s mechanics involve converting rights to real-world machines and their generated value into on-chain tokens, forming Machine Pools on peaq. Holders of Machine RWA tokens will be entitled to a share of rewards allocated for token holders based on their share in the Pool. Moreover, the platform will ensure compliance with relevant regulations, enabling global scalability.
ELOOP aims to achieve $20 million worth of Machine RWA token sales in its first year on peaq. Initially focusing on mobility and energy Machine RWAs, such as solar panels and electric vehicles, the platform’s scope is expected to expand to encompass various industries and sectors in the future.
ELOOP’s Machine RWA tokenization platform represents a significant step towards democratizing access to liquidity for innovative infrastructure projects. By leveraging the power of Web3, ELOOP aims to facilitate faster, cost-efficient, and compliant fundraising avenues, thereby catalyzing the development of transformative initiatives across diverse sectors.
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