Galaxy Digital Holdings Ltd., a diversified, multi-service merchant bank dedicated to the digital assets and blockchain technology industry founded by billionaire investor Michael Novogratz is going to switch to tokenization of assets such as real estate, according to the public announcement of Michael that was made during the conference in Toronto.
As it was stated by Bloomberg, Michael Novogratz pointed out that the tokenization of real estate is a booming market and there are a lot of changes related to blockchain and cryptocurrency that coming in to advance it.
In accordance to the new company’s strategy, Galaxy hired an investment banker who worked in real estate from Goldman Sachs Group Inc., where Novogratz was once a partner, to help run that aspect of the business.
Michael Novogratz also explained that the tokenization of real estate will include creating special tokens that would represent a fraction of debt or equity for buildings and issuing tokens instead of shares by real-estate investment funds.
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