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Polygon-Powered Lumia Plans to Tokenize Two Skyscrapers Worth $220M
Lumia, a blockchain project focused on real-world asset (RWA) tokenization, is advancing plans to tokenize two towers in Istanbul valued at over $220 million. Powered by Polygon’s cutting-edge technology stack, Lumia aims to reshape the future of real estate tokenization and further enhance cross-chain interoperability for digital assets. With its plans to tokenize $1 billion in assets by the end of the year, Lumia is branding itself as a player in the RWA space.
Lumia’s first move will involve the Lumia Towers development in Istanbul, a $220 million real estate project that will soon begin construction. The project stands out as one of the largest tokenized real estate developments in history to set new standards for global RWA tokenization.
Using blockchain technology to tokenize real estate opens up major investment opportunities for both large small investors. By making real estate investments more accessible, Lumia is tapping into the possibility of lowering the entry barriers for a broader range of participants in the market.
Additionally, the Lumia blockchain operates on a custom Layer 2 solution built using Polygon’s CDK (Chain Development Kit), offering scalability, modularity, and enhanced data availability. Polygon’s technology underpins Lumia’s ability to handle large-scale tokenization efficiently and securely.
Lumia’s infrastructure incorporates advanced features such as decentralized sequencers, zkProvers, and custom redundancy DACs to ensure that transactions are processed quickly and securely.
In addition to Polygon’s CDK, Lumia has integrated with Agglayer, a cross-chain interoperability platform. This alliance will allow for low-latency operations and shared liquidity across blockchain networks.
As noted by CNF, the connection to Agglayer further strengthens the network’s ability to support fast, atomic transactions between Layer 2 and Layer 1 chains, making moving assets across various platforms easier.
A Strong Focus on Policy and Industry Leadership
Beyond its technical achievements, Lumia is also advancing in shaping the policy environment around RWA tokenization. As reported in our earlier post, the team is working with various governments, including Turkey, to develop the legal frameworks necessary for tokenized assets.
Their association with private organizations also points to a commitment to establishing a global standard for RWA tokenization, which will facilitate broader adoption across industries.
Lumia’s leadership in the RWA space is not just about technological innovation but also about regulatory compliance. The project’s work with regulatory bodies ensures that its tokenized assets are legally compliant, setting a precedent for future tokenization projects in real estate and beyond.
The Future of RWA Tokenization
Adding to this sentiment, Lumia’s collaboration with Sen Group, which is focused on tokenizing a $1 billion real estate portfolio, will provide another important milestone in adopting tokenized RWAs. The partnership is part of a larger trend toward integrating DeFi (decentralized finance) with traditional asset markets, allowing fractional ownership and increasing liquidity in real-world assets.
However, experts predict the RWA market could exceed $10 trillion by 2030. Lumia, with its focus on tokenizing major assets like real estate, is positioned to play a significant role in this expansion, leveraging Polygon’s technology to bring RWAs to the blockchain in a scalable and efficient way.
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