German RWA tokenization platform Swarm Markets will allow users to buy NFTs representing gold ownership

According to The Block, on June 25th, the German real asset (RWA) tokenization platform, Swarm Markets, based in Berlin, will allow users to purchase gold through NFTs. After KYC and AML checks, users can conduct peer-to-peer NFT exchanges on Swarm's decentralized platform.The gold assets of these tokenized assets will be stored in Brink's vault in London. Timo Lehes, co-founder of Swarm, said that NFT innovation is overshadowed by the hype of the encrypted market, but in fact, it can bring a large number of real assets into the blockchain. Swarm currently locks a total value of more than $14.6 million on its protocol, in addition to gold, it also provides tokenized listed company stocks and US Treasury bonds. Swarm believes that its tokenized gold is not affected by MiCA regulation because the regulation does not apply to unique and non-fungible encrypted assets. MiCA will be passed in mid-2023 and aims to regulate the digital asset market and eliminate related money laundering activities. MiCA will take full effect by the end of 2024.