How is real estate tokenization different from REITs or crowdfunding?

REITs are listed funds that hold many properties. Investors buy shares on a stock exchange. The structure is old and well-known, but often has high entry barriers and less flexibility for tailoring each project.
 

Crowdfunding platforms usually offer direct real estate deals online, but the records are kept in traditional databases and contracts.
 

Tokenization can combine ideas from both models but uses blockchain as the record of ownership. Tokens can be more easily moved between wallets and, in the future, across different platforms.
Also, tokenization can work for one single building, a portfolio, or even a loan, giving more flexibility in how deals are structured.