After real estate and art, ships and racehorses?…”STO expansion of underlying assets is key”
Stock Market Names Next Generation ST Ships, Racehorses, Video
“Should be similar in valuation to existing token securities products”
Ships are legally real estate…Racehorses are similar to Korean beef
“If the issuance cases are accumulated, the underlying assets can be expanded.”
This article has been translated into English through AI.
[Edaily Marketin Reporter Kim Yeon-seo] While the STO (Issuance of Token Securities) industry is striving to issue new securities and build infrastructure to revitalize the market, there are voices in the securities industry that new underlying assets should be diversified in order to enlighten the market. Ships, racehorses, and videos are drawing attention as underlying assets that will become the next generation of token securities.
According to the financial investment industry on the 25th, Kiwoom Securities pointed out in a report the day before that it is time to think about the expandable underlying assets. At the same time, it cited ships, racehorses and video as expandable underlying assets. In the case of the underlying asset, it is an opinion that valuation issues can be minimized and that valuation methods for assets already issued as new securities can be applied.
Kim Hyun-jung, a researcher at Kiwoom Securities, predicted that assets with characteristics similar to real estate, music, art, and Korean beef, which are currently issued as new securities, can be treated as underlying assets. Analysts say that the valuation method can be applied because it has similar characteristics to existing sculptural investment products.
Ship is considered the most likely underlying asset to be issued as token securities in the future. It is evaluated that the evaluation method of assets already issued as new securities can be applied evenly. Ships are classified as agenda real estate under laws such as civil law, and the evaluation method of real estate is applied mutatis mutandis when valuation is applied. It is also positive that it has similar characteristics to aircraft engines and assets that were designated as innovative financial services for the issuance and distribution of non-monetary trust beneficiary certificates in April.
It is expected that racehorses will also be able to actively use the recently approved valuation method of Korean beef investment contract securities. Previously, the Korean Horse Association established a cooperative system with Galaxy Money Tree to issue investment contract securities based on racehorses. It is also positive that investment products related to racehorses are already being operated overseas such as the United States, Australia, and Japan.
As the global market’s interest in K-content grows, attention is also focused on token securitization of video. There is also an expectation that if financing using token securities is facilitated, content production in the video industry will become easier. Kiwoom Securities analyzed that although it is difficult to find a valuation case for video, it can actively utilize the relative valuation method using cash flow data from Music Cow, a music copyright sculpture investment platform.
Kiwoom Securities pointed out that it is possible to expand its underlying assets only when existing cases of fragmented investment issuance are accumulated. As the securities currently being issued are expected to be the basis for market growth as a best practice, various cases should be accumulated.
Kim Hyun-jung, a researcher at Kiwoom Securities, said, “If new securities are actively issued within the year and cases of issuance based on new assets such as aircraft engines emerge, it will be possible to expand starting with the assets introduced earlier.” “If legalization is carried out based on this, token securities such as new securities will be able to act as a new investment tool,” he predicted.