The tokenization of real estate in Lagos State has the potential to transform the property market, making it more accessible to a wider range of investors.
Nigeria’s Lagos state government has announced an ambitious plan to tokenize real estate, leveraging blockchain technology to enhance transparency, efficiency, and ease of transfer in property transactions.
According to local media, this initiative, outlined in the Eko Revenue Plus Summit documents, aims to significantly boost the state’s internally generated revenue.
Real estate tokenization involves converting property assets into digital tokens on a blockchain. Each token represents a specific share of ownership in a property, similar to how stocks represent ownership in a company.
