What the fuck? How can you just turn someone else’s stock into a “token” and then list it on a stock exchange and sell it 24/7?

This would be like me printing out my own pieces of paper I call Munchkin Shares, and selling you Munchkin Shares in Google. Come buy shares in Google! 100% authentic munchkin shares!

Look at swap contracts. They are pretty standard financial agreements that are just otc agreements between 2 parties and they are frequently pegged to an exchange traded price with none of the underlying contract obligations.

Tokenization is and of the tech isn’t sketchy at all. That it’s mostly used to get around the regulations something like swap contracts are for is.