SkyBridge Capital, led by Anthony Scaramucci, has announced plans to tokenize a $300 million hedge fund on the Avalanche blockchain.
SkyBridge's Strategic Move into Fund Tokenization
SkyBridge Capital aims to tokenize its $300 million hedge fund through a partnership with Apex Group and Tokeny. Utilizing the Avalanche blockchain and ERC-3643 token standard, the initiative seeks to broaden access and efficiency. Apex Group will manage the fund using its Digital 3.0 platform.
Market Trends in Tokenization
The market for tokenized real-world assets has doubled in size over the past year, exceeding $26 billion, according to RWA.xyz. Predictions indicate that this market may evolve into a trillion-dollar industry by 2030.
Future Prospects and Market Impact
The collaboration between SkyBridge and Apex marks a pivotal moment in integrating traditional and decentralized finance. The success of these efforts could influence broader adoption and market practices.
SkyBridge Capital's initiatives may catalyze increased institutional adoption of blockchain technologies and the tokenization of real assets.
