An office building, a private credit fund and a collector car, each taken from idea to launch, followed by the mistakes that sink tokenization projects.
Case 1: An office building
- An SPV owns the building and issues tokenized notes or shares.
- Offered to qualified investors first, to keep the prospectus burden manageable.
- Rent is paid out quarterly; a valuation is published every year.
Case 2: A private credit fund
- Fund units are issued as tokens under fund law.
- Subscriptions and redemptions follow the fund's calendar, not the blockchain's.
- Transfer rules keep units with eligible investors only.
Case 3: A collector car
- An SPV buys and stores the car; tokens represent shares in the SPV.
- Storage, insurance and valuation costs must be covered by the structure.
- The exit is a sale of the car, decided by the rules set out in the documents.
Mistakes that sink projects
- Starting with the technology instead of the investor and the legal structure.
- No plan for distribution: tokens nobody knows about do not sell.
- Promising liquidity, and underestimating the yearly cost of running the structure.
Key takeaways
- Structure, investors and costs come before the chain.
- Match the token's rules to the asset's real life cycle.
- Distribution is half the project.
Sources
Educational content only, not legal, tax or investment advice. Based on EU and Swiss rules as of September 2026. Check the official texts before relying on anything here.