What is this conversion of real-world assets into tradable digital tokens called?

Tokenization of real-world assets is the term for converting something like a building, a painting, or a gold bar into tradable digital tokens. By splitting ownership of a single physical asset into many smaller blockchain-based tokens, this approach lowers the amount of money someone needs to invest to own a piece of it, and can make notoriously illiquid assets much easier to trade in smaller increments.

Photocopying an asset would simply create a worthless physical duplicate rather than a legally meaningful digital claim on real ownership, and renting an asset by the hour is an entirely different arrangement that involves temporary use rather than fractional ownership.

Because legal ownership rules for tokenized assets still vary significantly from country to country, an open question in this space is how enforceable a digital token's claim on a physical asset actually is if a dispute ends up in a real-world court.