Tokenization of real estate assets remains one of the most promising and technically complex areas of the sector.
**Promise:** P2P liquidity, extreme fractionalization (tickets from $5 USD), on-chain traceability.
**Challenges:**
- **Legal recognition of the token:** in most jurisdictions, the token represents a position in a vehicle (LLC/SPV), not direct property ownership. - **Secondary markets:** theoretical P2P liquidity is limited in practice by low investor density. - **Custody and wallets:** crypto wallet friction remains a barrier for mass retail.
Platforms combining solid legal structure with simple retail UX will capture the mainstream segment.