Tokenized Real-World Assets Arrive on Chromia Courtesy of Phlomis Finance
Chromia, the general purpose blockchain that utilizes relational databases, has expanded the use cases it hosts with the news that Phlomis Finance is building on its Layer 1. The arrival of Phlomis on the Chromia mainnet will bring tokenized real world assets (RWAs) onchain, allowing investors to access a host of financial opportunities that are normally the preserve of TradFi.
RWAs have become one of the fastest growing web3 sectors as tokenization platforms rush to bring billions of dollars of assets onchain, making them accessible to a new investor base. The ability to fractonalize and tokenize real world assets of all kinds, from fine art to treasury bills, is driving a Cambian explosion in RWAs and Phlomis Finance is at the vanguard of this trend.
Bringing RWAs to Web3 Natives
Phlomis is focused on bringing high-growth opportunities onchain that include climate-focused funds and global infrastructure projects. Its mandate is to identify high quality investment opportunities and then tokenize these, making them available to onchain natives. Its one of several companies specializing in the tokenization of RWAs, dramatically expanding the range of assets that can be traded on blockchain rails.
According to Phlomis founder Todd Miller, the decision to build on Chromia was dictated by technical considerations, noting: Many existing platforms struggle with scalability, high transaction costs, and limited access to essential documents. By utilizing Chromias infrastructure including Chromia Real World Asset Protocol, we aim to effectively address these pain points and create a seamless experience for investors.
The sort of accredited investors trading RWAs arent fussy about blockchain architecture provided the platform works seamlessly without fees or speed affecting user experience. Having done its research, Phlomis is confident that Chromia is best suited to this task, not just in having the scalability to support tokenized RWAs now, but in being able to retain that scalability in the future once its network has become significantly busier.
The Race to Tokenize Everything
From wine to commercial property and from precious metals to grain, assets large and small, tangible and intangible are currently being tokenized and made available to a new class of investors who are familiar with traditional finance and with blockchain. The ability to trade RWAs as tokens simplifies access, allows large investments such as a skyscraper or renaissance painting to be split into shares, and opens these markets to investors around the globe.
At least $7B in RWAs have already been placed onchain, but the total addressable market for this rapidly expanding industry runs into the trillions. If Chromia can capture even a slice of the RWA sector on its dapp-optimized blockchain, it will have established itself as a major router of global trade while demonstrating the superiority of its native architecture versus that of traditional blockchains.
It was recently announced that MMO game My Neighbor Alice is also coming to Chromias mainnet, which is fast evolving into a multi-purposes network that offers something to retail and professional users alike. Through onboarding more projects, Chromia will be able to demonstrate the versatility of its technology while making it easier for builders to create powerful applications that efficiently store and retrieve data.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
