- Elmnts launched its public beta on Solana.
- The platform specializes in oil and gas.
- Future expansion plans for other mineral rights.
The blockchain industry is slowly expanding into mainstream industries. In particular, real-world asset (RWA) tokenization offers a real use case for blockchain technology. In this sector, companies like Elmnts bring institutional legitimacy to the technology.
Most recently, Elmnts launched the public beta for its RWA platform, specializing in old and gas mineral rights. The platform’s launch on Solana showcases the network’s capabilities and its institutional appeal.
Elmnts Brings Oil and Gas Rights to Solana
Solana got another major endorsement from institutional investors. On Monday, October 21, Elmnts launched the public beta of its RWA platform on the Solana Network. The platform will allow accredited investors to invest in tokenized mineral rights.
This on-chain platform enables investors to get exposure to royalty income from oil and gas extraction. By focusing on real assets, the platform offers a stable income stream, compared to more risky blockchain projects.
Elmnts chose Solana due to its ability to handle transactions at a large scale while maintaining high speed and low fees. This feature is necessary for handling commodity investments. Elmnts also features a user-friendly investor portal for managing investments and portfolios.
Compliance First Approach Gives Legitimacy to Solana
What sets Elmnts apart is its focus on accredited investors, which helps the platform stay compliant. Accredited investors are either institutions or high-net-worth individuals expected to be more sophisticated in their investing decisions.
In many jurisdictions, including the US, accredited investors trade under different rules than the rest. Regulations give special protections to retail investors. This makes it harder for platforms catering to retail investors to comply with securities regulations.
This compliance-first approach enabled Elmnts to secure $2 million in pre-seed funding. Investors include Graph Ventures, Foundation Capital, and Solana co-founders Raj Gokal and Anatoly Yakovenko.
On the Flipside
- Elmnts is just one of the platforms focusing on RWAs. Another platform, MANTRA, is working on tokenization of real estate in Dubai’s growing market.
- With regulators tightening their grip around DeFi, RWAs bring a legitimizing narrative to the industry.
Why This Matters
By integrating real-world assets in blockchain technology, Elmnts is legitimizing the industry for institutional players. Its launch on Solana also showcases the network’s robust infrastructure.
Read more about RWAs and DeFi regulation:
Bridging the Gap: Can DeFi Coexist with Regulations?
Read more about Solana’s recent growth:
Solana TVL Hits 2-Year High: What’s Driving the Growth?
