Alliance Co-founder: Tokenization is Forming Two Dominant Forms—Equity and Buyback Value Accrual

Odaily reported that Imran Khan posted on X, expressing agreement with Delphi's recent report on the token market. Currently, tokenization is primarily evolving in two forms: tokens representing equity ownership, and tokens that achieve direct value accrual through buybacks. Token forms that fall somewhere in between will ultimately converge toward these two extremes. Unless revenue and buybacks are programmatically recorded on-chain, it will be difficult for tokens to reach a reasonable valuation. As more companies go public, tokenization can also provide global investors with on-chain participation opportunities, expanding access to ownership beyond traditional capital markets.