RealT's tokenized real estate empire is mired in a mess of unfinished projects and lawsuits in Detroit.

CoinFeed reported on March 17th that, according to WIRED, RealT, a tokenized real estate platform founded by Canadian brothers, sold properties in Detroit and other locations to over 16,000 investors worldwide by splitting them into crypto tokens worth approximately $50 each, claiming annualized returns of up to 12%. Its asset portfolio once reached approximately $150 million, and it touted itself as "one of the world's largest real estate tokenization platforms." Since 2024, the Detroit city government has filed civil lawsuits against RealT and its 165 related LLCs, accusing them of hundreds of urban "blight" violations, unpaid taxes, and alleging that at least 408 properties lack compliance certificates and suffer from serious disrepair, leaks, fire hazards, and other issues, with some properties even being occupied by gangs acting as "unlicensed landlords."