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Japanese real estate company GateS will tokenize $75 million Tokyo property on Oasys.
According to a report by Coindesk, Japanese real estate company GateS Inc. announced that it will utilize the Oasys Blockchain to tokenize a property in central Tokyo valued at $75 million, with plans to scale up to $200 billion, accounting for about 1% of the Japanese real estate market. GateS stated that the initiative aims to simplify the entry process for foreign investors and overcome language, legal, and intermediary barriers. The tokens will be issued through a regulated special purpose vehicle. The Oasys network has also expanded from its previous focus on gaming to the asset tokenization sector.