The Portugese company Lympid announced its foray into the fractional tokenization of real-world assets Monday starting with the luxury watch, Rolex Daytona.

What Happened: Known for launching tokenized U.S. Treasury Bills on the blockchain in late 2023, Lympid seeks to demonstrate the potential of real asset tokenization with this initiative.

André Lages, co-founder of Lympid, highlighted the significance of real-world asset tokenization, which has recently gained recognition from skeptics like JPMorgan's CEO Jamie Dimon.

Lympid is in discussions with a leading Portuguese bank to tokenize real estate assets and is negotiating with partners for a real estate asset portfolio valued between 5 million euros ($5.4 million) and 15 million euros, according to the company. 

The Rolex Daytona, one of the most iconic timepieces and a sought-after collectible, was chosen as the first asset for tokenization.

The watch is stored securely with a watchmaker and insured for transparency and credibility. Lympid users can invest in the watch by purchasing tokens, with full token ownership allowing for asset possession, subject to verification by Lympid and the custodial entity.

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The tokenization process began in December 2023, with the watch priced competitively compared to popular luxury watch websites.

Lympid's initiative has received a positive response, with tokens subscribed quickly by users before the secondary market launch.

The company said it is also exploring the tokenization of competition horses, with discussions underway with horse owners in the Middle East.

The Takeaway: Lympid's goal is to democratize real asset investment via blockchain technology, providing secure and transparent opportunities for users.

The company aims to meet regulatory considerations while diversifying investment opportunities through blockchain technology.

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