Animoca-Backed NUVA Links $19 Billion in Tokenized Assets to Ethereum

The platform, developed by Animoca Brands and Nuva Labs, debuts with two flagship products: a Treasury-linked yield vault called nvYLDS tied to Figure's SEC-regulated stablecoin YLDS, which has more than $500 million in supply, and nvPRIME, a token tied to Figure's $18.4 billion portfolio of home equity lines of credit.

The yield vault offers money market returns while the HELOC-linked token currently provides yields of more than 7 percent, an amount mostly available only to institutions and accredited investors in traditional finance. The company said NUVA is designed as a global distribution layer for institutional-grade products.

Users can deposit stablecoins into vaults and receive ERC-20 tokens representing ownership in the underlying assets. Those tokens can then be traded, lent or posted as collateral across Ethereum-based DeFi protocols.

The company stated that the goal is to create a marketplace for blockchain-native financial assets rather than wrapped versions of traditional products. It reported that many existing tokenization models still rely too heavily on offchain infrastructure and manual reconciliation.

Figure has become one of the largest issuers of blockchain-based private credit products through the Provenance network. The broader market for tokenized assets could reach trillions of dollars over the next decade according to multiple industry forecasts.

Tokenized real-world assets have become one of crypto’s fastest-growing sectors as asset managers and fintech firms use blockchain to modernize issuance, trading and collateral use.

The company said it plans to bring a range of tokenized assets onto NUVA from multiple issuers and expand to other blockchains beyond Ethereum. It added that the approach would give retail users access to assets often limited to institutional investors while eliminating limited access, time lags and high fees associated with traditional finance.

Users will eventually be able to access a wide range of assets in an easy to use, self-directed and self-custodial manner, the company reported.