Germany’s Largest Financial Institutions Invest in Blockchain Company to Create NFT Platforms

Together with the German bank Commerzbank, the Deutsche Brse stock exchange is investing a large sum in the fintech startup 360X. It is planned to create NFT trading platforms – primarily for art and real estate.
360X wants to use funds from two financial giants to create “new marketplaces for digital asset classes.” Purpose: to make it easier for investors to access illiquid assets. Deutsche Brse announced the investment on Thursday, April 29th.
In the future, Deutsche Brse will own 50% of the company’s shares, as it has invested about ten million euros in the project. Commerzbank’s stake should be significantly lower.
The first marketplaces that 360X implements on the basis of blockchain technology are designed to make investments in real estate and art possible. Further asset classes will be digitized later. In this regard, 360X describes its product as “highly scalable”.
The underlying platform will always be technically the same. We are talking about the tokenization of real assets into equivalents, which can also be partial, and the ownership of them can then be verified digitally through the blockchain. Real estate can be divided into a certain number of tokens.
In the case of works of art, the aspect of partial ownership is likely to be much less relevant. Here, the artwork must always correspond to a non-fungible token (NFT). There are already a number of marketplaces focused specifically on the digital art segment.

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