Who are the main participants in a tokenized real estate project?

Several parties usually take part in a tokenized real estate project.

• There is a property owner or developer, who brings the asset.
• There is an issuer, often the SPV that holds the property and creates the tokens.
• There is a tokenization platform or technology provider, which builds the digital tools, investor dashboards, and smart contracts.
• There may also be legal and financial advisors, who design the structure and make sure it follows regulation.

Finally, there are the investors, who buy and hold the tokens, and sometimes custodians or exchanges, which help store or trade them.
All these roles work together so that the on-chain record matches real-world ownership and rights.