Public Masterpiece Announces Layer 1 for RWAs
The company Public Masterpiece has announced the development of PMT Chain, a new Layer 1 blockchain. The project is specifically designed to support the tokenization and trading of real-world assets (RWAs), aiming to position itself for the next wave of blockchain adoption.
- 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 launch cycles common in the blockchain industry. - Before announcing its own Layer 1, Cyprus-based Public Masterpiece built a presence with a Layer 2 token on the BNB Chain. The company is also rebranding its PMT ticker, which previously stood for Public Masterpiece Token, to now represent Public Masterpiece Technology. - A core component of the ecosystem is a planned Certification Hub in the United Arab Emirates, which will be staffed by art experts, historians, and evaluators to authenticate physical items for on-chain representation. - The project's CEO is Kamran Arki, and its COO is Garen Mehrabian. Arki has stated that the chain was built for "real-world value and long-term trust" for institutions like museums and collectors. - Public Masterpiece is entering a market with significant growth projections, with some analysts forecasting the value of tokenized real-world assets to reach between $16 trillion and $30 trillion by 2030. - The initiative will also provide white-label tokenization solutions, allowing other companies and institutions to use its infrastructure without building their own from scratch. Public Masterpiece has stated that several governments are in discussions regarding the implementation of the PMT Chain. - The new chain will compete with established general-purpose blockchains like Ethereum and Avalanche, as well as specialized RWA-focused Layer 1 chains such as MANTRA and Provenance Blockchain.
