RealT, a tokenized real estate platform, announced voluntary liquidation on July 2. The company raised approximately $140 million by selling fractional shares of Detroit rental properties via blockchain tokens. Between 14,000 and 22,000 investors, including roughly 400 French nationals, hold tokens backed by approximately 700 properties that the City of Detroit says were neglected, tax-delinquent, and blighted. The escrow account established for the wind-down contains only $640,000, or roughly $45 per investor. This collapse marks the largest failure to date in the tokenized real estate sector.
Source: Read the original article
