Crypto exchange OKX’s CEO for its Middle East and North Africa (MENA) arm urged the industry to focus on delivering real-world utility as interest in real-world asset (RWA) tokenization accelerates.
In a Cointelegraph interview at the Token20249 event in Dubai, OKX MENA CEO Rifad Mahasneh warned that while tokenization is promising, projects must “clearly demonstrate” the benefits of tokenizing specific assets.
“In some cases, we’re tokenizing things that don’t need tokenization, but in some cases, we’re tokenizing things that actually give you real, everyday value, right? And if you can see that everyday value, then that is a promising project,” Mahasneh told Cointelegraph.
He said hype can drive project growth in the Web3 space, but providing everyday value should be the priority.
OKX MENA CEO Rifad Mahasneh at the Token2049 media lounge. Source: CointelegraphRWA tokenization gains traction in the UAE
Mahasneh’s comments come amid an increase in real-world asset tokenization projects in the Middle East,