eli5 tokenized stocks. other than pure speculation with no connection whatsoever to the performance of the company, what gives these value?

Solving public goods value capture. | /impact | book.abundance.id

> "no connection whatsoever to the performance of the company"

no connection? tokens are linked to an SPV that has ownership in OpenAI. if OpenAI becomes more valuable, the SPV and its tokens also become more valuable

they just haven't released any details about the book value so far

Studying MPC, progcrypto buzzword enjoyor, intern @ InternDAO

ok that makes a lot more sense. and seems they need to state that explicitly since I didn't see it in their docs

yes, just like Circle issued erc-20 tokens backed by *their own share* of treasuries and other reserve assets

there are many other examples of doing the exact same thing, e.g. Paxos (gold), Ondo (bonds). They tokenize their own share of something, instead of tokenizing the actual tradfi mechanism.

so they're saying that they tokenized OpenAI/SpaceX etc but they actually tokenizing *their own share* of those companies?