When interacting with the Algorand blockchain and one of its block explorers, it is possible to see tokens that refer to the main stocks of companies like Tesla.
These are special tokens, which have a green check mark to indicate that they are approved and secure tokens, and can also be exchanged through an exchange.
These are not only tokens related to Tesla shares, but also to other companies like Google, Twitter, Amazon, etc.
As we delve into the Tesla token, which is called Micro-Tesla 1/10000 Share (M-TSLA)We quickly realize that they are tokens that represent a fraction of the shares of their parent company.
These tokens have a total supply of 5 billion and were created by a platform called Mese, which calls itself the first microequity stock exchange of the world.
In essence, Mese has tokenized the shares of Tesla and other major international companies, or rather, has tokenized a fraction of them.
Looking at the platform we see that it is designed to simplify the exchange of these tokens and thus facilitate the sale of shares, but unfortunately at the moment it does not seem to work.
The project, in fact, was launched on Algorand only in February, so it is probably still in the testing phase.
Aside from the platform, we can see that the concept of tokenizing stocks and being able to buy only a fraction of them, allowing ordinary people to invest in big companies like Tesla, is making its way into the world of cryptocurrencies.
In fact, the CEO of Aave had even proposed to tokenize Tesla cars.
Tesla stocks in decline?
Shares of Tesla have plummeted in recent days, from over $ 2,200 to just over $ 440, though there have been no particular negative events since the latest car update was released recently.
Last week, an attack that could well have brought the automaker to its knees was averted by exploiting malware that employees were supposed to have installed in exchange for Bitcoin (BTC).