Christine Moy, head of Digital Assets at Apollo Global Management, said that tokenization "changes how value is transferred" and is only possible now because the technological gap has been closed.

"The concept of tokenization isn’t new, but it’s taken on new legs in the past," Morgan Krupetsky, Avalanche Labs' Director of Business Development for Institutions, added, saying that institutions and investors have gotten comfortable with the technology as we've come a long way since 2017 when the idea first emerged on the market.