Blockchain auditing firm Hacken joins the path of Real World Asset Tokenization (RWA). Using market-leading asset tokenization protocol Brickken, $HAI holders will be the first to ever be offered the possibility to convert Utility Tokens to Equity Tokens with a stake directly in the Hacken Enterprise. This groundbreaking move marks a new era for tokenized public companies and digital assets.
Throughout 2023, tokenization of Real World Assets has emerged as a transformative force in the financial landscape. Entering 2024, the trend is accelerating more rapidly than ever with a surge in institutional adoption.
The benefits of increased liquidity, decreased transaction costs, and instant settlements have put theory into practice. Finance Giants J.P. Morgan and HSBC, Investment Funds, and Asset Managers have made significant strides in implementing tokenization protocols to push down barriers and increase financial accessibility. Meanwhile, bringing financial products and Real real-world assets (RWA) on-chain is now forecasted by Boston Consulting Group (BSC), HSBC, and McKinsey to be a rapidly growing multi-trillion-dollar Industry.
As tokenization is redefining and improving upon legacy systems, it is also breaking ground through new innovative ways of merging the financial world with the digital.
One such case is renowned blockchain auditing firm Hacken. Having audited over 1,200 projects, including the likes of 1INCH, Sandbox, and DAO Maker, Hacken has emerged as one of the most reputable auditing firms in the blockchain industry. Their range of services has played an instrumental role in the blockchain ecosystem, from the emergence of DeFi to the safety and reliability of digital public services across Europe through the European Blockchain Services Infrastructure (EBSI).
Hacken is charting new territory by becoming the first-ever company to offer its holders the potential to significantly transform their relationship with the company. Now, holders will have the opportunity to exchange their native Hacken Token ($HAI) – traditionally a work-to-earn, product-utility, and governance token – for a direct ownership stake in the company through a conversion into Equity Tokens. This means that holders will be given the unique opportunity of becoming minority shareholders, where a 10% equity stake in the enterprise will be equivalent to 100M $HAI. Hacken has also indicated that additional benefits of this conversion will be disclosed in the near future.
The new structure has been made possible through Brickken’s Token Suite, which facilitates the issuance and distribution of equity tokens. Brickken's leading approach to asset tokenization introduces a new vision for merging real-world assets with digital assets. By enabling the Hacken Community to convert traditional utility tokens into tangible equity stakes, Brickken not only assists in solidifying Hacken's community but also establishes a blueprint for other projects aiming to enhance token holder engagement and loyalty.
In light of this partnership, Dyma Budorin, Co-founder and CEO of Hacken Group, emphasizes the significance of their choice:
"We have reviewed tens of different tokenization platforms, and Brickken is, by various parameters, our number one choice. Our cooperation marks the beginning of a new era for tokenized public companies.”
This initiative is pioneering a hybrid legal structure and a new realm of possibilities for digital asset utilities. By bridging the gap between utility tokens and equity ownership, Hacken and Brickken are setting a new precedent and demonstrating the vast, untapped potential of digital assets.
The collaboration sets a new standard in digital asset utilization, blending real-world and digital assets in a way that opens new avenues for novel token- and asset structures. This partnership not only serves as a significant step for both companies but also signals emerging trends in the broader financial ecosystem, showcasing the evolving role of digital assets.
“We are thrilled to partner with Hacken in issuing their Equity token and allowing the conversion of their $HAI tokens. This collaboration showcases our commitment to innovation in the digital asset space and sets new industry standards. Our platform's adaptability to meet Hacken's needs exemplifies our readiness for the rapidly evolving world of tokenization.”
- Brickken CEO Edwin Mata
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