You Can Tokenize Almost Any Asset, But Should You?

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You can tokenize almost any asset, but should you? What a tokenized raise really costs, why marketing drives the bill, and how to tell if it will pay off.
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Wall Street's move into tokenization makes the option more credible for everyone, but it doesn't make it cheap, easy or liquid for smaller companies. The token is the inexpensive part. Structuring, compliance, investor onboarding, marketing and distribution are where the money goes. The biggest variable is whether you already know your investors: on a $3 million raise, all-in costs can run from roughly 15% when selling to an existing investor base to a third or more when chasing a new market. A token doesn't bring buyers, doesn't guarantee a market to sell into and doesn't fix a company that isn't ready for investors. Tokenization pays off when the asset is clean, the investors are identified and the technology delivers a measurable improvement.