According to The Block, the Avalanche Foundation has created a $50 million incentive program to purchase tokenized assets on the Avalanche blockchain.
Dubbed “Avalanche Vista,” the $50 million incentive program will value all assets, including equity, credit, real estate and commodities.
John Wu, president of Ava Labs, said in a statement on the subject:
“Asset tokenization is a critical driver of today, not just the future of capital markets.
The momentum in institutions building on the chain has been staggering, and Avalanche Foundations is taking a big step forward with this initiative.
“The $50 million acquisition program reflects the Avalanche Foundation's commitment to advancing a more accessible, efficient and cost-effective financial system through the use of Avalanche's new consensus mechanism, unique Subnet architecture, and technical innovation.”
The news brought a 3% increase in the price of AVAX, but this increase was not permanent. AVAX is trading at $13.25 at the time of writing.
*Not investment advice.