Simply put, tokenization is the process of converting a physical asset or service into a digital token that can be bought and sold on the blockchain. ToTokens can be used as an alternative currency, to pay for goods and services, and even to invest in companies and projects.
While tokenization has been mainly associated with crypto and Web3 projects, traditional businesses are also slowly adopting this technology. For example, the Swiss bank Cité Gestion recently tokenized its shares, becoming the first public bank to do so.
So, how can you quickly tokenize your business?
The most common method is through a Token Generation Event (TGE), which allows your company to sell tokens in exchange for cryptocurrency or fiat money. There are several forms of TGE, including IDO, IFO, IEO, and IGO, each with different technical features and suited for different types of projects.
Tokenization offers several benefits for businesses, including improved transaction transparency and security, better customer relationships, and powerful community management tools that can boost customer loyalty. As tokenization continues to gain momentum, we believe that it will soon become a widespread practice across all areas of business.