Scaramucci’s AVAX One Sets Sights on Tokenizing Traditional Assets
AgriFORCE Growing Systems, previously involved in agricultural technology and Bitcoin mining, has rebranded to AVAX One and is making a significant shift towards becoming a crypto treasury company. The firm is embarking on an ambitious fundraising endeavor, aiming to secure $550 million from external investors to acquire AVAX tokens, the native cryptocurrency of the Avalanche blockchain.
AVAX One’s Bold Move into Tokenization
This strategic pivot marks AVAX One as the first publicly traded entity with a specific focus on tokenizing real-world assets and financial instruments on the Avalanche network. Avalanche, a high-performance blockchain, is gaining traction among Wall Street institutions and asset management firms due to its speed and efficiency. With a market capitalization of approximately $13 billion, the AVAX token underpins this growing ecosystem. Adding further credibility and strategic direction, Anthony Scaramucci, the founder of SkyBridge Capital and a former White House advisor, will lead the company’s advisory board.
AVAX One’s initiative could potentially unlock new opportunities for the African tech and financial sectors by enabling fractional ownership and increased liquidity for traditional assets. The planned acquisitions of fintech and insurance companies could provide a platform for innovation and wider adoption of blockchain technology across the continent.
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