i have looked around here especially on the op, but i have not found the real meaning of tokenising, pardon me if i live in the previous century but i will appreciate a lot if some here helped me understand or post a link to helping out.
There is a good part in the WP. About how they tokenize art-works. Check it out - Artwork tokenization and trade
Step 1.
Application for sale The owner of the artwork fills in the form on the LAT platform for artwork-backed token issue, providing basic asset information, results of previous appraisals (if available), share of asset to be tokenized, and ownership rights.
Step 2.
Asset appraisal Prior to artwork tokenization, it is subject to tests for authenticity, appraisal, and insurance by LAT-certified vendors.
Step 3.
Custodial agreement The LAT-certified custodian and the applicant sign a binding agreement for mandatory future open fiat auction by the settlement date.
Step 4.
Asset tokenization and sale When all legal issues are settled, LABT backed by the artwork are issued on the LAT exchange and become available for investors. All raised funds are transferred to the seller.
Step 5.
Asset buy back By the settlement date, the applicant must sell his artwork at a fiat auction and distribute the proceeds among the LABT holders. If he fails to do this, the asset will be sold at a fiat auction by the Trustee.
