Tokenized mineral rights investment platform Elmnts launches on Solana

Elmnts, a tokenized investment platform focused on building an on-chain commodity ecosystem on Solana, has announced its public beta release.

The launch of the platform on Solana (SOL) gives accredited investors access to blockchain-based investment funds backed by mineral rights royalties. Investors can diversify their portfolios by turning to companies that extract oil, gas and other natural resources.

According to a blog post, fund holders will earn passive income tied to tangible resources.

Elmnts joins Solana’s growing ecosystem

Elmnts leverages blockchain technology to bring these opportunities to users in the traditional financial market. The Solana team confirmed via X that qualified investors will be able to access the platform starting October 22nd.

The platform, which has real-world assets in a rapidly growing market, plans to expand its offerings beyond accredited investors with future retail products.

Elmnts’ debut places it alongside many other real-world asset products on the Solana network. This includes Credix, a private lending platform targeting businesses in Brazil, and Ondo Finance, a blockchain platform for tokenization.

As the U.S. Treasury bond market has grown, the Ondo U.S. Dollar Yield product has become the second largest U.S. Treasury bond asset after BlackRock’s BUIDL. Ondo’s USDY has a market cap of $443 million compared to BUIDL’s $550 million.

BAXUS, a marketplace where the world’s most collectible drinks are sold, is also available in Solana.

Excluding stablecoins, the blockchain networks with the most on-chain RWAs are Ethereum, Stellar, and Solana. Rwa.xyz data shows that the SOL ecosystem has witnessed the most growth in the last 30 days.

Recently, venture capital giant Andreessen Horowitz published a report showing that the crypto industry, which witnessed the most activity on Solana, is showing growth.

According to a16z Crypto report, of the 220 million active addresses interacting with a blockchain network or decentralized application in September, approximately 100 million were on Solana.