For quite some time, we’ve been made aware of numerous security token offerings slated
to take place on Tezos.
We’ve learned of some news coming from Thailand that dispels this train of thought.
XSpring Digital declares that the SiriHub Investment Token, which allows people from all levels of society to invest in Thailand’s first real estate-backed ICO, is attracting strong attention from investors. This real estate-backed token has the Siri Campus Office Building, where the headquarters of Sansiri Public Company Limited (SIRI) is located, as its underlying asset.
This STO has launched and seeks to raise upwards of $80M utilizing the Tezos blockchain. Stephane De Baets
of Elevated Returns shared a few words on the significance of the announcement as well.
What is at stake here is whether here is a case for STO. This is a first public offering of scale to retail through a regulated platform with subsequent listing on private exchange. If it flies then the whole STO use case is validated and since we commit to use Tezos as standard it will boost the demand for protocol. If it fails we are back to square one.
What we’re essentially witnessing is that chain bias/favoritism isn’t a focal point in the numerous institutions/enterprises that are using Tezos for security token applications. As of today, there is about
$4B in capital that has been created and/or slated to take place in future security token offerings on Tezos.
This very mindset described above has penetrated other sectors as well. We’re rapidly witnessing the rise in artists and creators choosing Tezos over other platforms for very similar reasons. Tezos can scale, the technology is not in practice (it’s available right now), high level of security, economically efficient, and it is environmentally friendly.
Those very points have manifested themselves month to month now in terms of network usage and metrics. Contract calls on Tezos are expected to double the previous ATH for August
Institutions and enterprises are in it for the long haul. Similar to the Cambrian explosion in NFT’s that we’ve been witnessing on Tezos lately - the same should likely be expected down the road for real applications and usage of blockchain technology. You’ll be hard pressed to find something better than STO’s especially in the real estate sector.
The Tezos ecosystem is focused on developing the seeds for planting itself in the long term. After the speculation dust settles, one would be a little pressed to not come to the realization that what’s being done today and what’s getting built is focused around the aforementioned statement.