Retard here

[Anonymous No.57245951]

Can someone give me a real world breakdown of something physical being 'tokenized' and how does it work? (Or am example of where's it's been done)

For example, say you have a fine art painting worth €100,000. You 'split' it into 100 tokens worth €1,000 each which are then tradeable at a fractional value (instead of just moving the one painting around)
But who actually decides to 'tokenize' it - how do they decide how many times it should be split.
How do they decide the initial price? Is it verified by multiple parties and then becomes the average of those verifications? Also where is the thing then physically housed and who pays for that storage? Who guarantees it's real and somewhere safe? Is this what chainlink is aiming to do and what it means by the 900trillion figure? Or am I fully retarded and have missed the point entirely.

TL;DR how do you put a sculpture on the blockchain?

[Anonymous No.57245981]

>>57245951
you can't. it's a meme
crypto is dotcom bubble 2.0
>worldcom = btc eth
>pets.com = doge shib bonk
>amazon = NANO (XNO)

[Anonymous No.57246002]

>>57245951
Additionally, if someone buys all the tokens and is a 'wholepainter' can they just walk in to this unknown place, pick. Up the painting, turn 360° and walk away?

[Anonymous No.57246018]

>>57245951
>Can someone give me a real world breakdown of something physical being 'tokenized
Company stocks, you absolute mongoloid.

[Anonymous No.57246037]

>>57246018
>Company stocks
>Physical asset

Turn 360° and leave this thread

[Anonymous No.57246048]

>>57245951
tokenized=/=fractionalized

one case of physical fractionalization i can think of that would actually make sense though would be real estate.

[Anonymous No.57246060]

>>57246037
Company with its assets and profits IS a physical entity.

[Anonymous No.57246063]

Google "masterworks"
they buy paintings
they put the painting in a company by itself
they sell shares of the company on their market place to private investors
later they sell the paintings
they take a fee, you get the percentage of profit on your investment

[Anonymous No.57247510]

>>57245951

[Anonymous No.57247527]

>>57247510

[Anonymous No.57247862]

>>57247510
>step 1 - "you want to bring on chain"

why anyone want to do that? Similar to OP I don't understand the why

[Anonymous No.57247962]

>>57245951
I've yet to hear any answers to these questions other than vague metaphors to the internet's early days, "its the future", etc.

I'd love to hear some real world examples of how this will be used

[Anonymous No.57248051]

>>57247862
People want to tokenize what are normally relatively illiquid real world assets so that they can now be used as yield bearing liquid assets within an innovative and revolutionary financial application ecosystem.

[Anonymous No.57248132]

>>57245951
Instead of commodities ETFs you could have tokenized commodities for peer to peer trading

[Anonymous No.57248155]

>>57248051
This. You could take out loans against your assets on a site like aave. Way faster, cheaper, and with a much lower barrier of entry than having a professional draft up a formal contract.

[Anonymous No.57248189]

anon,

everything tangible (and intangible for that 'matter') is potentially an asset.
part of what brings value to an asset is its liquidity.
it's one thing having a tonne of gold when you're stranded alone on an island of one.
it's quite another when there's a ship which passes by every other week.

you can conceive it with the iot that's coming.
you have a mont blanc pen. the pen is identifiable in your hand and on the blockchain.
you aren't getting paid until the end of the month. today's the 8th.
so you go to a pawn shop and sell your mont blanc pen with a buy back price for when you get paid priced in.
or you go online and offer it up on some chainlink build program 8 years down the line which, to all intents and purposes, is an online pawn shop.
or you go on a rival site that offers tokenised percentages of your mont blanc pen. it holds in custody, on an avax subdivision blockchain, your pen. it divvies up your pen into 1000 parts offering 4% interest by the months end.
1000 people (or even say 800 individuals buying one part each and 10 collectives buying 20 parts each, whatever) buy up your pen.
so instead of at the online pawn shop at 9% for the month you have gotten the money you need at 4% for the month. and those investors have got a sizeable return on their investment. 4% a month isn't to be sneezed at.

but what's stopping you not paying the loan back? how will they come to yours and get the mont blanc pen?
in all likelihood, they won't. there will be bladerunner type bailiffs, just not for mont blanc pens.
but there will be credit ratings. life long credit ratings. on the oasis rose blockchain.
and though they will go up and down, when they are down, you will have to go to the online equivalent of the pawnbroker (which by this time gives some of its profit to chainlink stakers) .
and when your credit rating is so bad that even the online pawnbroker won't see you, you'll have to either get by without your loan or go out on the street to barter

[Anonymous No.57248266]

>>57248189

now.
it won't just be about assets like paintings, mont blanc pens and expensive furniture.
and it won't be just real estate.
but imagine a world where your next 29 paychecks are collateralised.

now imagine a world where airline companies will be doing this with future expected earnings.
and insurance companies will be doing this.
where everything is collateralised and offset against everything else.

conceptually it is a world of never before seen liquidity.

and in it it is definitely conceivable that you will own nothing.
or on the flip side you could own a lot more.
because everything that isn't yours becomes potentially ownable.

and chainlink, potentially, connecting it all.

[Anonymous No.57248270]

>>57247962
it's just some futurist nonsense trying to get chainlink as legal tender to buy literally anything in the world, as if chain is law and there are zero bad actors in the world

[Anonymous No.57248280]

>>57247862
Because its more efficient.

[Anonymous No.57248288]

>>57248280

[Anonymous No.57248311]

>>57248288

[Anonymous No.57248339]

>>57248311

[Anonymous No.57248380]

Read the OP and then realize these are the people you're trading against. Lol. Lmao even.

/biz/ - Business and Finance