Jenny Johnson, CEO of Franklin Templeton, one of the world’s largest asset managers, believes that securitization, a practice with over 50 years of history, is undergoing a dramatic transformation due to tokenization. Tokenization is the process of converting asset ownership rights into digital tokens on a blockchain. Johnson believes that tokenization is like “securitization done on steroids” and is attracting more companies and CEOs to invest in “things for the future” like blockchain technology. Johnson used Rihanna as an example to illustrate her point of view. In February, the singer released one of its popular songs as a nonfungible token (NFT), allowing holders to partially earn royalties on streaming. Johnson believes that athletes can also benefit from tokenization, as they can sell off tokens worth 10% of their future revenue stream. Franklin, a $1.5 trillion asset manager with offices across the world, is one of the companies waiting for regulatory approval in the United States for a spot Bitcoin exchange-traded fund (ETF). Tokenizing music royalties as NFTs could help the next Taylor Swift.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Rihanna, Taylor Swift, Jenny Johnson, Frank |
| Companies | Franklin, Bitcoin Exchange-Traded Fund (ETF), Super Bowl, Franklin Templeton, Spotify |
| Currencies | None |
| Securities | None |
