The Middle East and North Africa (MENA) region is anticipated to see an explosion in the launch of crypto token projects – which converts digital assets into tokens linked to performing and income generating projects – with FLOKI Technologies set to debut its newly created TokenFi Launchpad in the region.
Companies in real estate, renewable energy, private debt and pre-IPO stocks are said to be among the leading ones which are eyeing raising billions through crypto token launches to fund their projects.
TokenFi Launchpad operates as an independent platform offering fundraising capabilities for crypto token projects – an innovation widely seen as the second stage of the technological revolution in the financial markets, the first being the recently debuted spot ETFs (Exchange Traded Funds) which set the cryptocurrency market on fire, with Bitcoin surging to it’s all time high price of $72,500 in mid-March.
Sector experts and players expect the new TokenFi platform, launched last week on the mainnet (primary blockchain network), to have a much greater impact on the market rally than the spot ETFs, with the incredible hype around the platform following the first project to conduct its token sale on the Launchpad getting sold out within 10 minutes.
A spokesperson for FLOKI told Arabian Business that the company, along with its associated project TokenFi, is setting sights on a major expansion within the Middle East and North Africa region “to engage with the region’s rapidly developing cryptocurrency market”.
“The focus on the MENA region is inspired by its increasing significance in the world of cryptocurrency,” the spokesperson said.
According to the TokenFi core team, a significant number of hotly anticipated projects are awaiting in the region to make their debut through the TokenFi Launchpad
Data from Chainalysis showed MENA as the sixth most active crypto economy globally, with around $389.8 billion in cryptocurrency transactions recorded from July 2022 through June 2023.
Besides the UAE, billed as among the top global hubs for cryptocurrency transactions, the region also is home to some of the top 30 countries by cryptocurrency usage such as Turkey, Morocco, and Iran.
TokenFi to roll out its platform on more networks
The TokenFI Launchpad is currently launched on the BNB and ETH blockchains, utilizing $TOKEN as its principal utility token.
The company spokesperson, however, revealed that it will soon expand it to other networks, with plans to roll out the Launchpad on the ETH, BNB, Base, opBNB, and Blast mainnet in the coming days.
“TokenFi is committed to revolutionizing the trillion-dollar tokenization industry by offering a user-friendly interface that requires no coding expertise,” the spokesperson said.
For each project that raises funds, TokenFi Launchpad imposes a 2 percent fee, half of which will be dedicated to the purchase and subsequent destruction of $TOKEN, thereby ensuring its continuous deflation.
The spokesperson also said plans are being made to ensure that $TOKEN stakers and holders become the biggest beneficiaries from the crypto token project launches.
Towards this, the company is learnt to be planning to soon go for a vote on introducing a DAO (Decentralized Autonomous Organization) – a type of bottom-up entity structure with no central authority.
Token projects mark major market shift in the trillion dollar crypto market
Industry experts view the launch of the new platform as a milestone development, as it comes amidst the market shift towards the tokenization of digital.
The Boston Consulting Group (BCG), in a recent report, projected an increase in the total value of tokenized illiquid assets, potentially reaching $16.1 trillion by 2030.
These assets span a diverse range, including but not limited to pre-IPO stocks, real estate, and private debt, the report said.
Larry Fink, CEO of BlackRock, the world’s largest asset manager with $10 trillion in assets under management, also seems to be backing the potential of tokenization in the financial landscape.
“ETFs are step one in the technological revolution in the financial markets. Step two is going to be the tokenization of every financial asset,” he said in a recent media interview.
RWA (Real World Assets) tokenization projects have exploded recently, with many rallying 300 percent or more in the past month, triggered by BlackRock’s focus on the sector, creating a tokenization fund on the Ethereum blockchain.
TokenFi, however, outperformed all other RWA token projects, with a 370 percent jump in the last 30 days.
Its explosive rally was mostly fuelled by the anticipated launch of the TokenFi Launchpad platform.
The platform, designed to ease the introduction of new projects in the digital asset space, was launched on March 28.
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