- The Real-World Assets Accelerator Demo Day by IOTA and Tenity takes place on September 18, with regulated crypto bank AMINA set to sponsor the initiative.
- Among the finalists are invoice financing platform InvoiceMate, commodities tokenization platform BlackFrog, and digital identity platform Auvo Digital.
The Real-World Assets Accelerator Demo Day by IOTA and Tenity is almost here. The event will be held on September 17 (next Tuesday) in Singapore as a curtain raiser to the landmark Token2049 Singapore conference where the likes of Binance CEO Richard Teng and Ethereum founder Vitalik Buterin will be take to the stage.
AMINA Bank, a regulated Swiss crypto investment bank based, has revealed it will sponsor the event.
The AMINA Team is excited to announce that we’re sponsoring @IOTA x @tenity_global RWA Accelerator Demo Day where six powerhouse projects will showcase how they’re turning the Real-World Asset game on its head!
Register today: https://t.co/upJT41LpxS #Token2049 #Web3 pic.twitter.com/XgkgdWpyMD— AMINA Bank (@AMINABankGlobal) September 8, 2024
The IOTA Real-World Assets Accelerator Demo Day
As we reported, IOTA joined forces with Singaporean incubator Tenity back in April to offer a 12-week accelerator program for blockchain startups whose focus was on tokenizing real-world assets.
In July, the two unveiled the six finalists who would undergo the program with the support of the entire Tenity and IOTA ecosystems. Each got a $50,000 grant, mentorship from industry trailblazers, and tools to help them take their products to the market, including networking opportunities.
Commenting on the initiative, IOTA founder Dom Scheiner stated:
The support and mentorship offered through the Accelerator Program are crucial in driving the growth of RWA tokenization, ensuring that IOTA EVM users can benefit from cutting-edge solutions that bridge traditional industries with the blockchain ecosystem, paving the way for a more decentralized and interconnected world.
The six projects are:
1. Orobo Finance
Orobo focuses on the digital layer of the RWA tokenization process, with its digital product passports used in carbon credit, sustainability reporting, digital twins, compliance and more. It utilizes IOTA’s digital product passports to validate and verify products and materials, with its automated data collection system extracting and structuring data from supply chains by leveraging the IOTA EVM.
2. Black Frog
Black Frog caters to an oft-neglected group whose significance is only rising—small-scale miners. For years, industrial miners have catered to global mineral needs, but with the transition to green energy, some minerals like cobalt will experience a sharp spike in demand, which these industrial miners can’t meet on their own.
Black Frog makes it easier for small-scale miners to join the opaque mining industry, extending financing and credit facilities through loans and bonds on its IOTA-based transparent platform. It also launched a commodity-backed yield-bearing stablecoin with which small miners can offer interest in the commodities they hold.
3. InvoiceMate
Invoice financing was worth $3 trillion in 2020, with analysts estimating it will hit $5 trillion by 2026. However, it continues to be difficult and expensive for small-scale businesses to access financing for invoices, delaying operations, denying them opportunities, or leading them to very costly options.
InvoiceMate allows small businesses to acquire financing through a transparent blockchain platform. It’s the most advanced of the bunch as it has already tokenized $223 million in invoices on its platform.
4. Qiro Finance
Qiro offers a private credit infrastructure and marketplace that connects asset originators with on-chain investors for fixed yield opportunities.
5. The Real Lifestyle
Real estate has been one of the most impacted industries by tokenization, and The Real Lifestyle wants to cater to this $6 trillion market. It offers investors fractionalized investments in homeownership and rental properties. It converts the illiquid properties into yield-generating assets, increasing on-chain activity, liquidity and TVL.
6. Auvo Digital
Auvo also caters to digital identity, providing users with a no-code identity management platform that avails secure on-chain identity and verifiable data solutions to users. Occupational and certification fraud costs the global economy $4.5 trillion annually, and Auvo has partnered with the UN and other international organizations to stop the vice.
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