The popular meme token Floki’s sibling project TokenFi (TOKEN) plans to launch its platform in 2024, which will tokenize real-world assets (RWA). This platform aims to capture a share of the growing tokenization industry, which is expected to reach $16 trillion by 2030. The TokenFi team announced they would provide technical support for the upcoming module in collaboration with significant partners like Chainlink (LINK).
TokenFi’s collaboration with Chainlink can be seen as a significant achievement considering Chainlink’s extensive history with RWA technology infrastructure. Chainlink’s advanced product inventory, which enables transactions worth $9 trillion, supports the growth of RWA platforms.
RWA tokenization has become one of the hottest topics in the crypto world during the bear market. Tokenization involves representing real-world assets such as real estate, commodities, and bonds as tokens on a blockchain. Based on DeFiLlama data, it is indicated that RWA protocols have a total locked-in value of $5.7 billion. TokenFi had previously stated that the ERC-3643 standard would be implemented.
Since its launch last month, TokenFi has seen significant interest in the cryptocurrency space. At the heart of the project is the native asset TOKEN, which is traded on selected decentralized and centralized exchanges. According to CoinMarketCap, TOKEN’s value stabilized since its initial release and is trading at $0.0271 at the time of writing. However, FLOKI, the fourth-largest meme token by market value, did not achieve similar success. FLOKI lost more than 10% of its value last month and is trading at $0.00003213 at the time of writing.