- The company Web3 Foundation, which is part of Polkadot, has put $1 million into Anemoy, a platform for Centrifuge RWA.
- The injection is making similar moves as top protocols like Maker and Avalanche to join the tokenization trend.
The Web3 Foundation, which is a big part of the Polkadot network, is investing $1 million to support the development and use of Real-World Assets (RWAs).
According to reports, this decision fits with the foundation’s goal of helping Polkadot’s infrastructure to grow and come up with new ideas. The money invested in Centrifuge Chain’s Anemoy platform is a move to connect regular finance and decentralized systems.
This change has not affected the price of Polkadot yet, but the cryptocurrency could benefit a lot in the future. Right now, the price of Polkadot is $5. 2, which is 2. 49 percent lower than it was 24 hours ago. However, the total value of all the company’s stock is $6,533,556,655, and the total amount of money traded in the last 24 hours is $157,560,637.
Web3 Foundation’s Important Friendship
Lucas Vogelsang, who helped start Centrifuge, said that working together has a lot of possibilities.
Centrifuge and Web3 Foundation are working together to help real-world assets grow and innovate using Polkadot’s technology.
The Web3 Foundation will invest in Anemoy’s new Liquid Short Treasury Fund. This fund helps DAOs and other investors get short-term access to US money. Yields on Treasury bills.
Fabian Gompf, the new CEO of the Web3 Foundation, says that the foundation will start a big project with a $1 million initial investment. He suggested that they will invest more money in real things in the future. He said, “Having $1 million is just the beginning, and we plan to grow even more. ”
Anemoy is the first company to create digital assets on Centrifuge Chain. It aims to connect regular money systems with Decentralized Finance (DeFi). Centrifuge is testing its new RWA Liquidity Pools on popular Ethereum Layer 2 networks. This shows that there is more demand for investing in Web3 technology.
More and more real-world assets are being used.
This decision matches the increasing use of real-world assets in the Web3 community. MakerDAO, a big company in the DeFi industry, was the first to put in up to 500 million USDC into the U. S Treasures MakerDAO’s investment in real world assets (RWA) went up a lot in 2022, from $17 million to $640 million, because more people want to invest in these types of assets.
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Even though RWAs make up only 10% of MakerDAO’s assets, they brought in almost half of the project’s revenue for the year. MakerDAO has increased its investments in real world assets and now has a total of $2. 8 billion
Avalanche, a different online platform, started a $50 million fund to invest in tokenized assets like stocks, loans, and real estate. Furthermore, Frax stated that they will keep on-chain Real World Assets safe, showing that more and more people are interested in this area.
Arkefi, which is part of AllianceBlock, is making it possible for more people to invest in high-value RWA using Web3 technology and decentralized finance. Arkefi helps people who want to invest in things like art, cars, and collectibles. This includes rich people and fans of cryptocurrencies.
Additionally, the XRP Ledger (XRPL) is gaining attention in the competition to tokenize real-world assets. David Schwartz, Ripple’s CTO, has said that XRPL is focusing more on turning real things like money into digital tokens. This makes it a strong competitor to big banks and other traditional money companies.