With Aconomy, you can easily bring your real-world assets onto the blockchain by tokenizing them into Asset NFT. Here are the steps that help you understand how to tokenize RWAs & transform them into Pi-NFT:
Create an Account:
First, create an account on the Aconomy platform if you haven't already. This account will be used to manage your RWAs and Pi-NFTs.
Create an Asset NFT:
Once you have your account set up, you can initiate the process of bringing your RWA assets on-chain. To do this, click on the "Create Asset NFT" button.
Fill in Asset Details:
Fill in all the necessary details for your Asset NFT. This includes uploading images of the asset, specifying royalty percentages, providing relevant documents, selecting the asset type, and indicating the value of the asset. This information will be used to mint the asset NFT of your physical asset.
Mint Asset NFT:
After completing the details and uploading the required information, you can mint the Asset NFT. This action creates a digital representation of your real-world asset on the blockchain.
Send for Validation:
To convert your Asset NFT into a Pi-NFT, you need to send it for validation. This is a crucial step in the process. You can choose either Self-Regulated Validator (SRV) or Jurisdiction Verified Validator (JVV) to send a validation request to a respected RWA Validator within the Aconomy ecosystem.
Validator Evaluation:
The RWA Validator will thoroughly examine the asset and assess its credibility and value. As part of the validation process, the validator may also add ‘Liquidity Bonds’ in the asset NFT to enhance trust in its legitimacy.
Conversion to Pi-NFT:
Once the asset NFT has been authenticated, validated, and the validator has added a liquidity bond, it transforms into Pi-NFT. The added liquidity bond by the validator provides an extra layer of assurance for potential investors and users, making the Pi-NFT more attractive.
By following these steps, asset owners can seamlessly convert their real-world assets into Pi-NFTs, effectively bridging the gap between traditional and digital asset markets while enjoying the benefits of blockchain liquidity and NFT trading features.