Elmnts, a Solana-based tokenization platform for mineral rights, the right to exploit underground resources such as oil and gas, has raised $2 million in pre-seed funding. The round was led by Graph Ventures, Foundation Capital and B + J Studios. According to reports, 45% of the funds will be used for "development" and 30% will be used for "legal/regulatory".
Blockchain venture Elmnts has announced the upcoming launch of its beta platform, which focuses on tokenizing real-world assets (RWA), starting with oil and gas mineral rights and royalties. As part of a broader plan to expand into other commodities, the Solana-based project aims to introduce efficiency and transparency to the investment process in the sector.