Sabai Protocol

A technology and tokenization stack for real-world and virtual assets, with a focus on real estate.

Website: https://sabaiprotocol.com/

Cover Block
Name Sabai Protocol
Tagline A technology and tokenization stack for real-world and virtual assets, with a focus on real estate.
Headquarters Phuket, Thailand
Founded 2021
Stage Seed
Business Model B2B
Industry Proptech
Technology Blockchain / Web3
Geography Global / Remote-First
Growth Profile Venture Scale
Founding Team Vadym Bukhkalov [Tracxn, 2025]
Funding Label Seed

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The Short Version

Sabai Protocol is a Web3 infrastructure company building a tokenization stack for real-world and virtual assets. Founded in 2021 and based in Phuket, Thailand, it is a subsidiary of the Villa Carte real estate holding group [Forbes, 2024]. Its primary commercial product, Sabai Property, is a digital marketplace for fractional shares of tokenized real estate using cryptocurrency or fiat payment rails [Sabai Property, 2026].

Founder Vadym Bukhkalov positions the venture as an implementation and consulting partner for developers [Tracxn, 2025]. The business model combines revenue from property tokenization services, platform fees, and the utility of its native SABAI token, which also funds the tokenized game, Sabai World [Sabai World - tokenized game | Sabai Protocol]. Over the next 12 to 18 months, key indicators include the volume of real estate assets tokenized, expansion beyond the Villa Carte ecosystem, and traction of its secondary market.

Data Accuracy: YELLOW -- Core product claims are consistent across company materials, but founder details and financials rely on limited external corroboration.

Taxonomy Snapshot

Axis Value
Stage Seed
Business Model B2B
Industry / Vertical Proptech
Technology Type Blockchain / Web3
Geography Global / Remote-First
Growth Profile Venture Scale

The Company in Brief

Sabai Protocol emerged in 2021 from an operational need within Thailand's hospitality sector. Founded by Vadym Bukhkalov as a subsidiary of the Villa Carte group, a real estate holding company with over a decade of experience and a reported capitalization exceeding $700 million in Phuket [Sabai Protocol, Unknown][Medium, Unknown]. The protocol was initially developed to serve the parent company's own real estate tokenization requirements before being productized for external clients [Sabai Protocol, Unknown].

Following its 2021 founding, the company developed its core tokenization stack. By 2024, its flagship commercial product, Sabai Property, launched as a digital marketplace for fractional real estate investment [Sabai Property, 2026]. Integration of fiat payment rails, including Visa and Mastercard, was announced for February 2024 [Sabai Protocol, Unknown]. The company completed a security audit of its smart contracts with Certik [What Is Sabai Protocol ($SABAI)? Everything You Need to Know, Unknown].

Recent developments include a seed funding round utilizing the native SABAI utility token to finance Sabai World, a tokenized game linking virtual asset ownership to real-world property income [Sabai World - tokenized game | Sabai Protocol, Unknown].

Data Accuracy: YELLOW -- Founding details corroborated by multiple company sources; funding and specific milestone dates are not independently verified by mainstream press.

What They Have Built

Sabai Protocol provides a technology stack for asset tokenization and a commercial marketplace application. The core protocol tokenizes real-world assets (RWA) and virtual assets (VA) [Sabai Protocol]. Its primary commercial product is Sabai Property, a digital platform for investing in tokenized, fractional real estate [PERPLEXITY SONAR PRO BRIEF]. This marketplace allows users to buy fractions of properties using cryptocurrency or traditional fiat payments, with a minimum investment threshold of $50 [Sabai Property, 2026].

The stack is built on the Polygon blockchain [Sabai Property, 2026]. Smart contracts, audited by Certik, automate the distribution of 90% of net rental income to token holders monthly [Sabai Property, 2026]. Sabai Property integrates with non-custodial wallets like MetaMask [Sabai Property, 2026]. The platform includes a peer-to-peer secondary market with a resale cap at 80% of the original purchase price [Sabai Property, 2026].

The protocol's capabilities are marketed for games and IT startups, offering implementation services, team training, and consulting [PERPLEXITY SONAR PRO BRIEF]. A planned feature allowing users to tokenize their own real estate on the platform is targeted for Q3-Q4 2024 [Sabai Property, 2026].

Data Accuracy: YELLOW -- Product descriptions are consistent across the company's primary websites and marketing materials, but specific technical architecture details and performance claims are not independently verified.

Market Size and Demand

Sabai Protocol operates at the intersection of RWA tokenization and virtual asset integration. A 2023 report from Boston Consulting Group and ADDX estimated the tokenized asset market could reach $16 trillion by 2030 [Boston Consulting Group & ADDX, 2023]. The global real estate market was valued at over $600 trillion in 2023, with commercial real estate accounting for $32.6 trillion [Statista, 2023].

Demand is driven by crypto-native investors seeking yield and diversification, and property developers requiring efficient fundraising channels. Sabai Property highlights operational efficiency via automated distributions and title management [Sabai Property, 2026]. The regulatory landscape remains fragmented, creating both opportunity and compliance complexity.

Metric Value
Global Real Estate Market (2023) $600T
Tokenized Asset Market Potential (2030) $16T
Commercial Real Estate Market (2023) $32.6T

Data Accuracy: YELLOW -- Market sizing relies on third-party analyst reports (BCG, Statista) which are public but not specific to Sabai Protocol's model.

Who Else Is Fighting for This

Sabai Protocol competes in a market defined by regulatory specialization and asset class focus.

Company Positioning Stage / Funding Notable Differentiator
Sabai Protocol Tokenization stack & marketplace for RWAs/VA, focused on real estate. Seed (token-based) Vertical integration with Villa Carte real estate group; dual crypto/fiat marketplace.
RealT Fractional real estate investment platform via tokenization. Private Focus on U.S. residential properties.
Propy Real estate transaction platform with blockchain-based deeds. Series A Direct integration with government title registries.
Securitize Digital asset securities platform for compliant issuance and trading. Series B Strong focus on regulatory compliance (SEC-registered transfer agent).
Harbor Compliance platform for tokenizing private securities. Acquired (2020) Emphasis on regulatory compliance engine.

Sabai Protocol's edge is its operational integration with the Villa Carte real estate group, providing a source of real-world assets and property management expertise [Forbes, 2024]. This edge is geographically anchored to Phuket. Scaling requires replicating these partnerships in new markets. The company lacks the deep securities law compliance infrastructure of competitors like Securitize, and its go-to-market for consulting is not well-documented with named enterprise customers.

Data Accuracy: YELLOW -- Competitor profiles are publicly established, but Sabai's market position and differentiation are inferred from company materials without independent third-party validation.

Opportunity

Sabai Protocol aims to become the default tokenization and management infrastructure for the hospitality and resort real estate sector in Southeast Asia. Its connection to Villa Carte provides a built-in pipeline of real-world assets and operational credibility [Sabai Protocol].

Scenario What happens Catalyst
Vertical Dominance in Resort Tokenization Sabai Protocol becomes the go-to platform for fractionalizing luxury resort villas across Thailand and neighboring countries. A high-profile tokenization of a major VillaCarte-owned resort property.
Gaming & Virtual Asset Expansion The Sabai World game evolves into a major virtual economy, driving demand for the SABAI token. Successful launch and user adoption of Sabai World.
White-Label Infrastructure Provider The protocol is licensed to other real estate developers and fund managers globally. Securing the first external, named B2B client outside the VillaCarte group.

Data Accuracy: YELLOW -- Opportunity scenarios are constructed from cited company claims and market context; specific catalysts and scale outcomes are forward-looking.

Sources

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