Animoca's NUVA launched the HOME token, opening the U.S. home equity credit market to non-U.S. investors
Animoca Brands and Nuva Labs have launched the real-world asset market NUVA with the HOME token, providing qualified non-U.S. investors exposure to U.S. home equity lines of credit (HELOC) with a minimum participation of 1 USDC. This ERC-20 token aims for an annualized yield of 7%, resetting monthly, with interest income and loan performance reflected in the net asset value of the fund pool, which in turn determines the token price. The product has no lock-up period and features a first-loss tranche that accounts for approximately 5% of the fund pool's value, designed to absorb losses from defaults or forced sales before they affect HOME holders.The underlying assets of HOME are the HELOC pools initiated by Figure Technology Solutions. According to Federal Reserve economic data, the size of U.S. HELOCs rose to $460 billion in the second quarter. Nuva Labs CEO Anthony Moro stated that traditional securitization primarily targets institutional investors, making it difficult for individual investors to access such structures. HOME does not attempt to create residential credit demand from scratch but presents an asset class with existing institutional demand in a more accessible on-chain structure. HOME holders do not directly own the underlying loans but hold tokens corresponding to the exposure of the fund pool.HOME is only available to qualified non-U.S. users, with the UK, Hong Kong, China, the British Virgin Islands, and sanctioned jurisdictions also excluded. NUVA will enforce these restrictions through wallet screening and IP address blocking.
