FT: Rising metal prices fuel broader push for tokenization

Rising prices for metals such as gold, copper and uranium are prompting mining and technology companies to develop crypto tokens linked to physical metals, the Financial Times reported. Companies involved said the products could make metal investing more accessible for retail investors, let crypto investors diversify into real-world assets, and provide miners with a new fundraising channel. Tokenized metals are also expanding beyond gold to uranium, nickel and cobalt. Some companies are trying to tokenize metals before they are mined to fund development. Nasdaq-listed Datavault AI is pursuing a model that would tokenize metals such as copper and antimony before extraction, allowing investors to trade the tokens or redeem them for physical metal after mining. Experts, however, said mining projects are inherently complex and difficult for ordinary investors to assess properly. They also pointed to challenges around whether industrial metals, which vary by purity and origin, can be treated as uniformly as gold, while fragmented trading platforms were cited as another obstacle to accessibility and interoperability.