Elmnts, a platform for tokenized investments dedicated to creating an on-chain commodities ecosystem on Solana, has unveiled its public beta.
The rollout on Solana (SOL) enables accredited investors to tap into blockchain-based investment funds supported by royalties from mineral rights. This allows investors to diversify their portfolios by gaining exposure to companies involved in the extraction of oil, gas, and various natural resources.
According to a blog post, fund holders can earn passive income linked to physical resources.
Elmnts integrates into Solana’s expanding ecosystem
Utilizing blockchain technology, Elmnts offers these opportunities to participants in the traditional financial market. Starting today, Oct. 22, qualified investors can access the platform, as confirmed by the Solana team via X.
With real-world assets in a fast-growing market, the platform aims to broaden its offerings to include retail products for non-accredited investors in the future.
The launch of Elmnts positions it alongside a variety of other real-world asset products within the Solana network. This includes Credix, a private credit platform aimed at businesses in Brazil, and Ondo Finance, a blockchain initiative for tokenization.
As the U.S. Treasuries market expands, the Ondo U.S. Dollar Yield product has emerged as the second-largest U.S. Treasuries asset, following BlackRock’s BUIDL. Ondo’s USDY boasts a market cap of $443 million, while BUIDL’s is at $550 million.
Additionally, BAXUS, a marketplace for collectible spirits, is also accessible on Solana.
When excluding stablecoins, the blockchain networks with the highest on-chain RWA (Real World Assets) are Ethereum, Stellar, and Solana. Data from Rwa.xyz indicates that the SOL ecosystem has experienced the most significant growth over the last 30 days.
Recently, venture capital powerhouse Andreessen Horowitz published a report indicating substantial growth in the crypto sector, with Solana witnessing the most increased activity.
Among 220 million active addresses that engaged with any blockchain network or decentralized application in September, approximately 100 million were on Solana, as highlighted in the a16z Crypto report.
