Real estate is a primary target for tokenization. Its size and intrinsic illiquidity makes tokenization and fractionalization unusually appealing for owners and developers, and investors are attracted by the opportunity to gain exposure to the asset class at lower cost. So it is not surprising that the real estate sector spawned the flagship tokenization of shares in the St Regis Aspen hotel back in 2018. Among the real estate entrepreneurs that recognized the significance of that transaction three years ago was Ed Nwokedi, then working in the capital markets group at Cushman & Wakefield. Today he is the CEO of Red Swan CRE, a blockchain-based marketplace where issuers can raise finance for commercial real estate projects by issuing tokens to SEC-accredited investors. Dominic Hobson, co-founder of Future of Finance, asked him how Red Swan works and where it is going next. 

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