The news that has piqued the interest of the global community is the “tokenization” of a luxury Manhattan real estate project that will soon be digitized on the Ethereum blockchain.

While this comes as a shot in the arm for digital asset proponents who have been harping about the use of blockchain technology for long, it also draws the interest of traditionalists. It is a real world case of the use of blockchain technology to tokenize real world assets.

The building is located on 436 and 442 E 13th Street in the East Village and has 12 completed units of 1700 sq ft each. It has been valued at over $30 million on the real estate market.

Ryan Serhant, bestselling author (Sell It Like Serhant) and star of Million Dollar Listing New York, is the listing broker for this landmark deal. Broker-dealer firm Propellr and blockchain start up Fluidity will help make this deal possible. Fluidity will use its flagship AirSwap to create a system that will bring this real world asset online through blockchain technology. Investors will have the option to buy either analog or digital ownership of this asset

While opinions are divided, one thing is clear – the opportunities with blockchain technology are limitless and enormous. “With blockchain technology, a transparent and trustless ecosystem can start to solve the information asymmetry that hinders the market’s potential for liquidity,” Todd Lippiatt, CEO of Propellr was quoted as saying.

There have been other instances where real estate assets have been tokenized to generate liquidity or raise funds. Case in point being Country Heights Holdings Bhd, a Malaysian real estate entity that recently announced its plans to run an ICO to raise funds for its upcoming project.

Such projects will go a long way in attracting traditional investors into the digital asset space, as they are comfortable in the fact that they would be investing in real world assets, that will be finally backing digital currencies (asset-backed tokens). What is interesting to note here is that traditional sectors, like real estate, that have stayed aloof from technological advancements, are getting into the blockchain world. This proves the utility and all-encompassing nature of this transformative technology.

Art, another sector that has always favored tradition over technology, is also getting a taste of digital currencies. Many museums and art dealers are now accepting digital currency payments. The Whitestone Gallery in Hong Kong recently conducted a successful ICO to raise funds for creating a distributed appraised art trading platform. Dragon Art is another such platform that brings artists of different genres on a platform that can be then used by art lovers and collectors enjoy and buy. The entire ecosystem is powered by Dragon blockchain solutions that creates a fast, safe and frictionless payment system.

Paul Moynan, CEO of Dragon, explains, “We created Dragon as a leading company that uses the limitless potential of the blockchain technology to challenge the traditional financial gatekeepers. Dragon Art is a bold statement by Dragon to help talented artists from around the world by providing a state-of-the-art platform that will bring their art to the world. Buying and selling art on the platform will be eased by the use of digital assets.

Dragon’s primary aim is to transform the entertainment industry Dragon, “It is a testament to our vision and business value. We are committed to creating a cutting-edge financial system that will revolutionize, and integrate, the entire global entertainment industry,” says Mr. Moynan. Dragon has also created a currency exchange – Dragon Exchange – that addresses the pain points of conventional exchanges and ensures a safe and efficient experience to digital asset traders.

Such endeavors will go a long way in attracting mainstream, traditional investors to explore the possibilities that blockchain technology brings to real world use cases. This will be the major step to achieve critical mass for widespread adoption of digital currencies and blockchain technology.