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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Blockchain Firm Labs Group Taps Enjin to Tokenize Real Estate Assets

Blockchain Firm LABS Group Taps Enjin to Tokenize Real Estate Assets

The year has started with a batch of announcements regarding tokenization in various sectors. On this occasion, a blockchain gaming platform announced its collaboration with Labs Group to issue non-fungible tokens (NFTs) of real estate assets.

Global Real Estate Market Is Valued at $228 Trillion

According to the announcement, the blockchain real estate company will use the Enjin platform to mint and issue NFTs. People will be able to buy fractionalized real estate assets starting at $100, making the first step into real estate-related investments.

As the global real estate market represents the world’s largest asset class, valued at $228 trillion so far, Enjin expects that tokenization of fractional share increases its liquidity.

All tokens processed on the Enjin platform will pass through the Ethereum blockchain. Enjin also clarifies that it can avoid settlement periods by channeling such transactions on that network.

Maxim Blagov, Enjin’s CEO, commented on the blockchain gaming company’s interest in the real estate market:

The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It’s only a matter of time before real estate is tokenized. Together with Labs, we can be among the first movers to disrupt one of the world’s oldest markets.

Which Specific Assets Do Represent the Minted Tokens?

Just approved property owners, real estate groups, and developers will be able to mint NFTs. Per the announcement, such tokens represent fragments of apartment units, hotel rooms, or entire buildings. Afterward, the NFTs can be traded by the holders via the Labs Security Exchange.

Yuen Wong, CEO of Labs Group, commented on the matter:

We knew Enjin was the right choice when selecting a blockchain integration partner to represent our real estate assets. The team’s experience in building tech along with their partnerships made it a no brainer for us.

Recently, news.Bitcoin.com reported that Swiss digital asset bank Sygnum and Fine Wine Capital AG launched collectible premium wine-backed tokens, becoming the first ones under the new blockchain rules.

What do you think about tokenizing real estate assets? Let us know in the comments section below.

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