Tokenization in Web3 refers to converting real-world assets or digital items into tokens on a blockchain. These tokens represent ownership or access to assets like real estate, art, or even shares in a company. In Web3, developers use platforms like Ethereum or Solana to mint tokens that can represent both fungible assets (such as cryptocurrencies) and non-fungible assets (NFTs). These tokens can then be traded, sold, or used as collateral in decentralized finance (DeFi) applications. Tokenization allows for greater liquidity and fractional ownership of assets, making them more accessible to a wider audience. Web3 development platforms enable developers to create custom token standards, like ERC-20 and ERC-721, to suit different use cases.
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