NUVA, the real-world asset marketplace co-incubated by Animoca Brands and Nuva Labs, has launched a yielding vault token called HOME (ticker: nvHOME), backed by a portfolio of US residential real estate-backed loans originated and managed by Figure Technology Solutions (Nasdaq: FIGR) and its affiliate Figure Investment Advisors, an SEC-registered investment adviser.
The underlying portfolio comprises three loan types: home equity lines of credit (HELOCs) secured against residential property, debt service coverage ratio (DSCR) loans to professional real estate investors, and residential transition loans used for purchase, renovation or construction. All loans are originated and recorded natively on Provenance Blockchain, a public Layer 1 network that NUVA says currently holds over $30 billion in real-world assets by total value locked.
The product mechanics
HOME is structured as a fully composable ERC-20 token, allowing holders to deploy it across decentralised finance strategies. The vault targets a 7% net annual percentage yield, set through a fixed policy rate that resets monthly, with yield accruing directly into the token’s value rather than distributed separately. A first-loss equity tranche targeted at approximately 5% of vault capacity absorbs losses before they reach HOME holders, which provides a thin but defined buffer against credit deterioration.
Minimum entry is 1 USDC, and there are no lockup periods. Withdrawals can be initiated at any time, with processing reported to take up to three US business days. Decentralised exchange liquidity and broader DeFi integrations are described as forthcoming.
Anthony Moro, chief executive of Nuva Labs, framed the launch as a distributional shift rather than a structural innovation in the underlying asset class. “HOME delivers a diversified, professionally managed portfolio of natively onchain home loans available starting from just 1 USDC,” he said. “This is precisely what we mean when we talk about democratising access to institutional-grade assets.”
Market context and regulatory read-across
The tokenisation of real-world assets has become one of the more actively developed segments in institutional digital finance. BlackRock‘s BUIDL fund, Franklin Templeton‘s BENJI token and a growing number of private credit vehicles have demonstrated investor appetite for onchain yield products backed by traditional instruments. NUVA is entering a market that is becoming more crowded at the institutional end, though the sub-$1 minimum entry point and the DeFi composability angle are aimed at a retail and semi-professional DeFi audience that most institutional RWA products do not reach.
The regulatory framing carries material complexity. Figure Investment Advisors is SEC-registered, which provides a degree of oversight over the asset management function. However, the HOME token itself is an ERC-20 issued via a blockchain-native structure, and its classification under US securities law remains the kind of question that the SEC has not yet resolved uniformly for yield-bearing tokenised instruments. For non-US users, MiCA’s asset-referenced and e-money token categories in the EU would not straightforwardly apply to a product of this structure either, leaving the applicable regulatory perimeter dependent on jurisdiction and user classification.
The 7% net APY figure is explicitly described in the release’s own disclaimers as a target rather than a guarantee, and the first-loss tranche at roughly 5% of vault cap is a relatively modest cushion against a credit stress scenario in US residential real estate. Prospective users and their advisers will want to interrogate the credit quality of the underlying loan book, the precise terms governing withdrawal processing in a stressed market, and the governance of the monthly policy rate reset before treating the headline yield as a reliable income figure.
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