Public Masterpiece Announces New L1 for RWAs
The company Public Masterpiece has announced the development of PMT Chain, a new Layer 1 blockchain. The network is being built specifically to serve the real-world asset (RWA) tokenization economy.
- Public Masterpiece's native token, PMT, previously existed as a Layer 2 on the BNB Chain. The token reportedly increased in price by 75% over the past 12 months, outperforming 86% of the top 100 crypto assets. With the L1 announcement, the company is rebranding the token's meaning from Public Masterpiece Token to Public Masterpiece Technology. - The PMT Chain has been in development for seven years, with five years dedicated to research and development, a timeline that contrasts with the faster-paced launch culture often seen in the blockchain sector. The founders have indicated the blockchain is ready but will only go live when the timing is "strategically optimal." - A key feature of the ecosystem will be a "Certification Hub" located in the United Arab Emirates. This hub will be staffed by art experts, historians, and other evaluators to authenticate and appraise physical assets before they are tokenized on-chain. - The project's leadership includes CEO Kamran Arkia and COO Garen Mehrabian. Arkia has stated the chain was built for "real-world value and long-term trust," aiming to provide the transparency and security needed by museums, collectors, and brands. - While the company's foundation is in tokenizing high-value art, collectibles, and other luxury goods, it has confirmed that the PMT Chain is designed to scale to other RWA sectors, including real estate. - The company plans to offer white-label tokenization and certification services, allowing other institutions to use their infrastructure without needing to build their own from the ground up. Public Masterpiece has also stated that several governments are in discussions regarding the implementation of PMT Chain. - The total and maximum supply of the PMT token is 2 billion. The allocation includes 20% for community rewards, 20% for a presale, 15% for CEX liquidity, 15% for development and advisors, 10% for marketing, and 5% for the team. - The broader RWA tokenization market is projected by some analysts to reach between $10 trillion and $16 trillion by 2030. Currently, Ethereum is the dominant blockchain for RWAs, but competitors like Avalanche, Aptos, and Polygon are gaining traction.
