Daniil Kozin Investment call
Guides

Real-asset tokenization, explained straight.

Every guide in one place. The honest version of how real-asset deals work, what they yield after the cascade of costs and tax, and where the risk actually lives. Investor-side deal walkthroughs first, then the operator-side advisory guides.

01 / For investors

Understand the deal before you wire.

10 MINDUE DILIGENCE

Tokenized deal due diligence: the 9 points that should clear before you wire

Asset, operator, jurisdiction, SPV structure, token mechanics, allocator rights, distribution waterfall, reporting, exit. The 12-document DD pack and eight red flags.

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9 MIN€121K · ~22.6% GROSS

Solar trading SPV: a 45-day working-capital cycle that returns 22% gross

A Romanian SRL on your name, panels bought wholesale and sold through a pre-booked B2B channel in 45 to 60 days. The honest cascade and where the cycle can break.

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9 MIN€80K · ~15% GROSS

Buy the battery. Lease it for ten years. Collect 15% rent

A trailer-mounted battery, manufactured in Brașov, on a ten-year fixed-rent lease to a Romanian grid operator. Mobile by design, so the downside is relocate and re-lease.

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10 MIN€500K · UP TO 20% GROSS

A 3 MWh battery container on a ten-year lease. €500K in, up to 20% gross per year

The higher-yield, higher-ticket sibling of the mobile BESS. 3 MWh container in a Brașov industrial park, same Romanian manufacturer, same operator class, four times the capacity.

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10 MIN€2.8M · ~7.7% GROSS

A refurbished Austrian warehouse at €916/sqm. Vacant today, ~7.7% gross once let

The most tokenization-native deal on the desk. The honest cascade including acquisition costs and Austrian tax, and the vacancy risk that defines the deal.

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14 MINPILLAR · BESS

BESS investment guide: how private allocators access battery storage yields in Europe

Romania pays 15 to 20% gross, Germany 5 to 7%. Three private-investor structures, the EU subsidy mechanics, real risks, and the legal wrapper that fits.

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16 MINDEAL FLOW MAP

9 categories of EU tokenized real-asset deals private allocators are seeing in 2026 (and where they're finding them)

The accredited-tier category map: stationary BESS, mobile BESS, solar PV, solar trading, light industrial, multifamily, private credit, infrastructure, NPL portfolios. Ticket, gross yield, SPV jurisdiction, risks. Plus the five sourcing channels allocators actually use.

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11 MINPORTFOLIO COMPARISON

Tokenization vs REITs in 2026: which one fits real-asset investors, when, and why both belong in a portfolio

The honest side-by-side. Liquidity, yield, tax, sector access, minimum ticket. When REITs win, when tokenization wins, and the 60-20-15-5 hybrid sleeve most serious allocators run.

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TOOLFREE

Run a number: which live deal fits your ticket and horizon

Enter your ticket size and time horizon. See which of the five live deals fit, with expected returns at your chosen horizon. No call needed.

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02 / For operators

Raising capital through tokenization.

11 MINCATEGORICAL MAP

The honest map of RWA tokenization in 2026: 12 asset classes that work, 5 that don't

Which real-world assets actually make economic sense to tokenize in Europe in 2026. Twelve categories that work. Five where the marketing has outrun the math. Three tests every asset must pass.

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11 MINJURISDICTION CHOICE

Best EU jurisdiction for a tokenized SPV: Romania, Austria, Liechtenstein, Malta, Luxembourg compared

The honest side-by-side: setup cost, annual overhead, corporate tax, dividend withholding, time to incorporate, regulatory regime. Which jurisdiction for which asset class, and the hidden costs that change the answer mid-deal.

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14 MINPILLAR

How to tokenize your business: raise €100K to €30M without bank debt or VC equity

The four-step process, wrapper choice (Romanian SRL, Austrian SPV, Maltese SPC, Singapore SPC), comparison vs bank debt and VC, the fee structure, two real case shapes.

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8 MINBEFORE YOU SIGN

How to find a tokenization advisor: the 7 questions to ask before you sign

Who pays them, what the fee covers, track record on your asset type, regulatory mandate, what happens when a deal slips. Plus the four materials to bring to a first call.

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8 MINTHE WORK

What does a tokenization advisor actually do? A week-by-week breakdown

From first call to first wire. Qualification, jurisdiction, SPV setup, legal package, allocator outreach, close. The 35-day timeline for a typical €100K to €5M raise.

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9 MINTHE INVOICE

Tokenization advisor fees: what they cost, who pays, and where the math gets ugly

Every line on the invoice. Advisor 3 to 5%, lawyer €5K to €25K, platform 0.5 to 1.5%. Allocator-paid vs operator-paid. Ongoing costs after close. Five red flags.

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10 MINSTRUCTURE CHOICE

Tokenized SPV vs traditional private placement: when each one is the right tool

The wrapper is regulatory; tokenization is the cap-table mechanism. Honest side-by-side on cost, setup time, access, reporting, liquidity. Ticket thresholds where each one wins.

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New to the vocabulary? The glossary defines 41 tokenization, BESS, and real-asset structuring terms in plain language. Looking for the independent project reviews? Those live in the RWA Roast.