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Tokenization

Tokenization of real estate development projects

Link financing to the actual construction schedule, budget and control of disbursements from the project company.

Book a free consultationRead about the service

What you gain

  • A project instead of a general narrativeWe analyze the plot, permits, budget and the realistic exit path.
  • Tranches under controlDisbursements can be tied to confirmed milestones.
  • Investor reporting from construction dataThe panel combines costs, progress, sales and risks.
  • Waterfall before issuanceThe priority of the bank, collateral and investors is transparent.

Token classification

Two paths

A MiCA white paper is not always enough. The rights the token gives decide the path.

  • Path A

    A utility token or another token covered by MiCA

    • White paper
    • Notification in an EU member state

    Notification of a white paper is not its approval by the supervisory authority. The scope of requirements depends on the token classification.

  • Path B

    A revenue token as a financial instrument

    A revenue token is usually a financial instrument.

    • An information document, memorandum or prospectus, depending on the threshold
    • Thresholds: 100k / 1m / 5m EUR. A draft raising the prospectus threshold to 12m EUR is before the Sejm (print no. 3298). It is a draft, not law in force.
    • Intermediation by an investment firm or an authorised crowdfunding platform

On the first call we establish which path applies to your asset.

Check if your asset qualifiesSee the feasibility study

Information only, not legal advice. As of 7 November 2026.

About the service

Real estate development projects

Table of contents
  1. When does tokenization of real estate development projects make sense?
  2. How the model works
  3. What needs to be controlled
  4. Scope of cooperation
  5. Implementation process
  6. Law and liability

We design tokenized project financing from the plot and permits through tranches and progress reporting to the settlement of sales or leasing.

When does tokenization of real estate development projects make sense?

A development project changes its risk profile at every stage. Before the permit, administrative risk dominates; during construction, cost and completion time; at exit, the pace of sales or commercialization. A single token with a general promise of a share in profit does not show these dependencies.

The service is for projects with control over the land, budget, schedule, documentation and an accountable SPV. Tokenization will not fix an unclear title to the plot or missing senior financing.

How the model works

The investor receives a right described in an instrument issued by the project company or in a financing agreement. Contributions and disbursements are tied to milestones, and the panel shows the budget, progress, liabilities, sales and deviations.

What needs to be controlled

  • title to or effective control over the land
  • permits, budget and baseline schedule
  • tranches dependent on milestones
  • independent confirmation of progress and costs
  • waterfall of sales, senior debt and investors

Scope of cooperation

  • due diligence of the plot, SPV and documentation
  • model of the instrument and investor rights
  • schedule of tranches and milestones
  • budget, progress and sales panel
  • settlement smart contract within the agreed scope
  • testing of cost overruns, delays and changes to the exit

Implementation process

  1. Assessment of control over the asset and project readiness
  2. Map of capital, collateral and permits
  3. Design of the instrument and the waterfall
  4. Construction data and reporting model
  5. Pilot of a tranche and deviation scenarios
  6. Launch after legal and financial approval

Law and liability

The token does not transfer ownership of the real estate. Financing may take an equity, debt or crowdfunding form and requires qualification of the offering, investor rights, collateral and the role of the SPV.

Each project is qualified individually. Tokenuj does not guarantee financial results, liquidity, the compliance of a specific issuance or the automatic transfer of rights to the asset.

Process

How we work

  1. 01 · Analysis

    We verify the asset, business model and funding goals.

    Deliverable:potential report

  2. 02 · Strategy

    Issuance model, jurisdiction, blockchain network and tokenomics.

    Deliverable:issuance strategy

  3. 03 · Documentation

    Whitepaper, offering documents, AML/KYC, SPV structure.

    Deliverable:complete documents

  4. 04 · Technology

    Audited smart contracts, issuance website, investor dashboard.

    Deliverable:issuance infrastructure

  5. 05 · Issuance

    Technology, communication. The issuer runs the offering.

    Deliverable:technical readiness

  6. 06 · Support & growth

    Listings, investor communication, community growth.

    Deliverable:post-issuance servicing

Knowledge base

Read more

FAQ

Frequently asked questions

  • Not by itself. Investor rights follow from shares, bonds, a loan or other documentation related to the project company.

  • A controlled account, a budget by category and disbursements after milestones have been confirmed by a designated person or entity can be used.

  • The documentation should define reporting, schedule changes, reserves, additional financing and investors' rights.

  • It often brings order to the ownership of the asset and the project's cash flows, but whether it is justified and its form depend on the financing and taxes.

  • On the basis of actual inflows and costs according to the agreed waterfall, not on the basis of a marketing valuation alone.

  • Transfers may be restricted by the type of instrument, the documents and regulations. We do not guarantee a secondary market or liquidity.

  • Title to the land, the SPV's commercial register (KRS) extract, permits, budget, schedule, contractor agreements, financing and the sales or leasing model.

Information only, not legal advice. As of 7 November 2026.

Other services

Free consultation

Let's talk about tokenizing your asset

Tell us about your project. Within 24 hours we will come back with a time for a call where we assess the tokenization potential, the issuance model and the next steps.

Book a free consultation+48 796 527 649
  • Reply within 24h
  • No obligation
  • Confidential (NDA)
Michał Chodzynski – Founder
You will talk to MichałMichał Chodzynski · Founder

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