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Novogratz’s Crypto Firm Turns to Tokenization of Real Estate (1)

Nov. 13, 2018, 8:39 PM

Billionaire investor Michael Novogratz is getting on the bandwagon for the “tokenization” of assets such as real estate while prices in the cryptocurrency market languish.

“So while it feels like a crappy bear market, and it has been in coins, underneath it there’s all kinds of positive things,” Novogratz, the founder of Galaxy Digital Holdings Ltd., said Nov. 13 during a conference in Toronto. “There’s positive movement on the technology and there are new technologies coming. There’s positive movement on the institutional adoption of the architecture needed.”

With different companies already selling tokens to split up debt or ownership in ...