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Japanese real estate investment firm GATES Inc. unveiled plans to tokenize $75 million of income-generating properties in central Tokyo using the Oasys blockchain to make it easier for foreigners to gain access to the country's real estate market.
The company said Thursday it plans to expand quickly, aiming to eventually tokenize more than $200 billion in assets, or about 1% of Japan’s $20.5 trillion property market.
Tokenization of real world assets, including real estate, has gained traction globally as institutions explore ways to use blockchain technology for transactions and recording ownership. Dubai, for example, projected a $16 billion market for tokenized property by 2033. The overall tokenized asset market, including bonds and equities, could be worth $18 trillion by 2033, BCG and Ripple have forecast.
GATES said it's the first major Japanese company to introduce such a large-scale property tokenization effort. Founded in 2012, the firm provides end-to-end property investment services and reported $145 million in revenue in 2024. It has also filed paperwork for a potential Nasdaq listing.
By putting ownership records on the blockchain, GATES aims to simplify the process for foreign buyers who often face high legal costs, complex regulations and language barriers when trying to access Japan’s property market. This way, investors will be able to buy and sell real estate-backed tokens on decentralized platforms, without going through local intermediaries.
The firm said the tokens will be issued through an oversees special purpose vehicle for regulatory compliance.
"GATES has long bridged real demand and investor needs in Japan’s property market," CEO Yushi Sekino said in a statement. "We will add firm value to Japan’s highly reliable real estate assets by means of tokens that combine profitability and utility, building next-generation investment infrastructure that allows global investors easy access to Japanese assets."
Oasys pivots to RWA
GATES is working with Oasys, a layer-1 blockchain originally designed for gaming. The network has shifted focus in recent months toward real-world asset (RWA) tokenization as part of a broader effort to apply blockchain tools to traditional sectors like property and finance.
"Japanese content, whether game IP or other cultural assets, commands high global value," said Ryo Matsubara, Representative Director of Oasys. "Providing such Japanese assets as RWAs is an area where Oasys, with its Japanese roots, can fully leverage its strengths."
After rolling out the first phase in Tokyo, GATES said it plans to bring its tokenized real estate model to markets in the U.S., Southeast Asia and Europe.
Future phases may also include tokenized intellectual property rights to Japanese media franchises, turning cultural exports into digital investment products, the firms said.
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