ELOOP aims to raise $20 million through machine RWA token sales and build a launchpad on peaq.

quick take

ELOOP NETWORK has launched its groundbreaking Machine Real World Asset (RWA) tokenization platform at peaq, revolutionizing the way businesses represent their assets. By tokenizing machines such as wind turbines and shared electric scooters, the platform enables liquidity and access to new revenue streams. With a focus on compliance and global scalability, ELOOP aims to raise $20 million from Machine RWA token sales in the first year.

ELOOP Network Launches Machine Real World Asset (RWA) Tokenization Platform on peaq: Opening a New Path for Web3 Liquidity

In an important move to bridge the gap between the digital and physical worlds, ELOOP NETWORK has unveiled its Machine Real World Asset (RWA) tokenization platform on peaq. This groundbreaking initiative aims to transform the way businesses and communities interact with assets, giving them the opportunity to represent their stake in machine-generated value through on-chain tokens.

Led by ELOOP, the platform is set to power enterprises and the Decentralized Physical Infrastructure Network (DePIN) by allowing them to tokenize reward-generating machines, including wind turbines, WiFi hotspots, shared e-scooters, and more. These tokens not only generate rewards for holders based on the real-world value generated by the underlying machine, but also provide access to liquidity and open up new revenue streams.

Nico Prugger, CEO and Co-Founder of ELOOPhighlighted the platform’s ability to scale proven models to benefit a wider range of businesses and communities. According to Prugger, ELOOP’s tokenization platform is ready to empower enterprises by helping them maximize the utility of their assets. It will also facilitate access to liquidity, creating a foundation for projects aimed at improving lives to thrive.

As reported by DeFi Llama, the emergence of real-world assets in the Web3 sector is notable, with total value locked (TVL) exceeding $4.3 billion. While tokenizing financial instruments such as stocks has been common, the concept of Machine RWA introduces a new dimension to tokenizing tangible assets with revenue-generating potential.

Till Wendler, co-founder of peaq, highlighted the transformative potential of Machine RWA tokenization, saying, “It can support all kinds of ambitious automation projects, from networks of delivery robots to solar panel arrays that deliver green energy where it matters most. .” he said.

ELOOP’s pioneering efforts in this area are exemplified by its successful project to tokenize the fleet of car-sharing Tesla vehicles in Vienna. The initiative, which raised more than €1.6 million without any marketing costs, proved the viability of the model. Building on this success, ELOOP is now expanding its reach by launching the Machine RWA tokenization platform on peaq.

Currently being tested on peaq’s canary network, krest, the platform will soon be launched on the peaq mainnet. It has already garnered interest from a variety of projects, including Dabba, the connected DePIN, a major energy provider, and players in the shared mobility sector.

The mechanism of the platform involves forming a pool of machines at peak by converting the rights to real machines and the generated value into on-chain tokens. Machine RWA token holders can receive a share of rewards allocated to token holders based on their stake in the pool. Additionally, the platform complies with relevant regulations to ensure global scalability.

ELOOP aims to achieve $20 million worth of Machine RWA token sales in its first year at its peak. Initially, the focus was on mobility and energy Machine RWA, such as solar panels and electric vehicles, but the scope of the platform is expected to expand to cover a variety of industries and sectors in the future.

ELOOP’s Machine RWA tokenization platform represents an important step toward democratizing access to liquidity for innovative infrastructure projects. ELOOP aims to foster the development of innovative initiatives across a variety of sectors by leveraging the power of Web3 to facilitate faster, more cost-effective and compliant fundraising methods.

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