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Elmnts, a tokenized investments platform focused on building an on-chain commodities ecosystem on Solana, has announced its public beta.
The platform’s launch on Solana (SOL) provides accredited investors access to blockchain-based investment funds, backed by mineral rights royalties. Investors can diversify their portfolios with exposure to companies that extract oil, gas, and other natural resources.
Fund holders will generate passive income tied to tangible resources, according to a blog post.
Elmnts joins Solana’s growing ecosystem
Elmnts leverages blockchain technology to bring these opportunities to users in the traditional financial market. Qualified investors can access the platform starting today, Oct. 22, the Solana team confirmed via X.
With real-world assets in a rapidly growing market, the platform plans to expand its offerings beyond accredited investors with future retail products.
Elmnts’ debut places it alongside several other real-world asset products on the Solana network. This includes Credix, a private credit platform targeting businesses in Brazil, and Ondo Finance, a blockchain platform for tokenization.
As the U.S. Treasuries market grows, The Ondo U.S. Dollar Yield product has become the second-largest U.S. Treasuries asset, behind BlackRock’s BUIDL. Ondo’s USDY has a market cap of $443 million, compared to BUIDL’s $550 million.
BAXUS, a marketplace for the world’s most collectible spirits, is also available on Solana.
Excluding stablecoins, the blockchain networks with the most RWA on-chain are Ethereum, Stellar and Solana. Rwa.xyz data shows that the SOL ecosystem has witnessed the most growth in the past 30 days.
Recently, venture capital giant Andreessen Horowitz released a report that showed growth with the crypto industry witnessing the most activity on Solana.
Of 220 million active addresses that interacted with a blockchain network or decentralized application in September, about 100 million were on Solana, the a16z Crypto report noted.
This article first appeared at crypto.news
