Gates Inc. and Oasys’s partnership is one of Japan’s largest real estate tokenization projects, with phase 1 aiming to expand liquidity to $34 billion.
Japanese real estate investment firm Gates Inc. will tokenize $75 million worth of central Tokyo properties on the Oasys blockchain, marking one of the country’s largest real estate tokenization initiatives to date.
The partnership, announced Wednesday, represents a major step for both companies. Gates plans to eventually tokenize over $200 billion in assets — about 1% of Japan’s real estate market — while Oasys continues expanding beyond its gaming roots into real-world asset (RWA) tokenization.
Gates, which generated $145 million in 2024 revenue and was listed on the Financial Times’ “High-Growth Companies Asia-Pacific 2023” list, is currently conducting a Nasdaq roadshow after filing its F-1 prospectus.
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Gates CEO Yushi Sekino told Cointelegraph that the company has secured the necessary financial and real estate business licenses in Japan. The RWA project will be executed through a special purpose vehicle (SPV) established overseas. “We are actively preparing to ensure full compliance with local regulations and secure the required licenses in the relevant jurisdictions through a strong partnership,” he said.
Ryo Matsubara, founder and representative director of Oasys, told Cointelegraph that the Oasys team is “building a token economy that automatically reinvests returns to maximize compounding effects.”
The companies said they plan to expand the tokenization model internationally, targeting the United States, Europe, the Philippines and other parts of Asia. Over time, the initiative could also include tokenized Japanese intellectual property, such as gaming and anime assets.
Real estate tokenization is speeding up
Global interest in real estate tokenization has surged in recent months. In Dubai, tokenized real estate sales have reached $18 billion, while New Jersey has begun digitizing $240 billion worth of property deeds.
According to a report released on April 26, 2025, by the Deloitte Center for Financial Services, the global market for tokenized real estate is expected to reach over $4 trillion by 2035, a massive leap from less than $300 billion in 2024. This growth represents a compound annual growth rate (CAGR) of more than 27%.
Polygon Labs CEO Mark Boiron said in an interview with Cointelegraph on March 3 that tokenization is poised to revolutionize real estate investing. He emphasized that the real estate market needs to overcome the liquidity issues that often lead to illiquidity discounts, and tokenization could be the key to increasing liquidity.
As tokenization accelerates, institutional investors are increasingly interested in the space. On June 5, Pan-European fund manager APS acquired $3.4 million worth of tokenized real estate assets through MetaWealth’s blockchain-based investment platform.
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