1:1 tokenized stocks are 'imminent' on Base, Pollak says, as the network admits a betting mistake on creator apps and pivots to trading, payments, and AI agents.
Alpha Score of 35 reflects weak overall profile with weak momentum, weak value, poor quality, moderate sentiment.
Jesse Pollak, creator of Base, said the Ethereum layer-2 network is close to launching 1:1-backed tokenized equities. The launch is "imminent," he wrote in a post on X. The team is finishing the last details, he said.
The exchange came after a question from Garrett Skrovina, a fintech director at Lazer Technologies, about the timeline for tokenized equities on Base. Pollak's response was direct.
Pollak acknowledged that Base made a "betting mistake" by prioritizing creator applications, content, and messaging in an earlier stage. That bet did not generate the expected results, he said.
The new direction is clear. Trading, payments, AI agents, and tokenized assets will be the central focus, Pollak said. The 1:1 backed equities fit into that vision.
The move highlights a broader trend. Networks are competing to capture traditional capital flows through the tokenization of real-world assets. Robinhood Chain's recent launch of tokenized stocks in an EVM environment underscored the competitive pressure. Pollak said Base had been behind on this front and that he was frustrated about it.
Coinbase CEO Brian Armstrong, in a separate post, reiterated that his personal posts do not constitute investment recommendations. The warning came after a series of posts about tokenized assets.
Pollak said Base's tokenized equities will be 1:1 backed, as opposed to what he described as Robinhood Chain's synthetic approach. The launch will also include other financial instruments, he said.
The network plans to expand its financial stack with trading, payments, and AI agent integration. No specific date has been set for the tokenized equity launch.
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