Skargard + Blocksquare

Skargard’s tokenization model (built in cooperation with Blocksquare) is centered on tokenizing economic rights to an asset’s revenues—rather than tokenizing equity in the owning company—so investors hold a legally enforceable claim that can be administered and automated on-chain.

The core idea: tokenize rights, not equity

Instead of issuing tokens that represent shares in an SPV (equity), the model issues tokens that represent a contractual right to the asset’s cash flows (economic rights), anchored by a standardized legal instrument . As Blocksquare describes it, “Blocksquare’s protocol solves this by tokenizing the Economic Rights through a Corporate Resolution,” explicitly positioning it as an alternative to the 2018 approach that “attempted to tokenize the equity of the owning company (the SPV)” .

The legal anchor: the Corporate Resolution

The Corporate Resolution is the foundation layer that connects real-world obligations to the token and provides legal recourse if an issuer fails to perform . In Blocksquare’s words, it is “a standardized legal document signed by the property owner that officially transfers economic rights (revenues) to token holders,” and it acts as a “binding contract” that can support a contractual claim in court in case of default .

The on-chain layer: transparency and automated distribution

On the operational side, the model uses a distribution smart contract to calculate and pay out revenues pro-rata once funds are provided, reducing manual accounting and improving transparency . Once the company performs the single step of funding the contract, the smart contract handles the heavy lifting—calculating pro-rata shares, enforcing hold periods, and distributing funds with 100% transparency” .

Bridging fiat rents to on-chain payouts

Because rent is typically paid in fiat to a bank account, the structure includes a defined bridge from off-chain collections to on-chain distributions . Blocksquare summarizes this as: “The Corporate Resolution acts as the legal ‘anchor’ for this bridge,” creating “a binding mandate for the property owner to convert that fiat into stablecoins and send it to the Distribution Smart Contract” .

If you want to read more about this case study, refer to the article in the link below.

Source (original article): https://blog.blocksquare.io/article/the-evolution-of-real-estate-tokenization-from-manhattan-s-2018-experiment-to-the-2025-blocksquare-standard/