TAP Real Estate Technologies, Inc. (RWAX) is a real estate technology company that acquires and manages real estate assets using blockchain-based tokenization infrastructure licensed from TAP, Inc., a private technology company headquartered in Salt Lake City, Utah. The company operates under a licensing agreement granting it rights to the proprietary TAP Platform technologies for real estate use cases, combining a publicly held asset-holding structure with a privately held intellectual property platform. The company, formerly known as HUMBL, Inc., underwent a significant ownership and strategic change in late 2024 and into 2025, including a settlement agreement executed on September 9, 2025. Gregory Hopkins serves as Chief Executive Officer. The company is incorporated and headquartered in San Diego, California, based on the 10-K filed March 31, 2026. No revenue figures or segment disclosures are supported by the filing excerpts provided. The company has a complex capital structure involving convertible notes, multiple preferred stock series, and stock-based compensation, and has recorded net losses as of the fiscal year ended as reported in the 10-K filed March 31, 2026.

Revenue model

No revenue model with specific figures is disclosed in the available filing excerpts. The company's stated strategy involves holding and managing real estate assets and tokenizing ownership interests under a licensed technology platform, but no transactional, fee, or subscription revenue streams are quantified in the excerpts.

Products and services

TAP Platform: a blockchain-based technology suite licensed from TAP, Inc., including TAP Registry (asset record and metadata storage layer anchored to public blockchains and permissioned infrastructure), TAP Wallet, TAP Token Engine, and TAP Smart Contracts. Tokenized Asset Portfolios (TAPs): structured real estate portfolios described as an evolution beyond traditional REITs, intended to support digital ownership and yield structures. FinCapital Credito Pagamentos e Servicos LTDA: a Brazilian subsidiary acquired December 2, 2024, holding 41,500 tons of magnesium silicate with a book value of $20,000,000 as of acquisition; magnesium silicate is used in fertilizer, construction, ceramics, and fireproofing sectors.

Customers and end markets

No specific customer counts or named customers are disclosed in the filing excerpts. Intended end markets include real estate investors seeking tokenized ownership interests, and downstream real estate ecosystem participants such as title, mortgage, brokerage, and marketplace platforms described as integration partners.

Value-chain role

Asset holder and platform licensee. TAP Real Estate Technologies holds select real estate assets and licenses blockchain tokenization infrastructure from TAP, Inc. to manage investor participation, tokenize ownership interests, and administer compliant issuance and lifecycle events. The company sits between asset acquisition and investor-facing digital ownership distribution.

Geographic exposure

Headquarters in San Diego, California, as of the 10-K filed March 31, 2026. Brazilian operations through FinCapital subsidiary acquired December 2, 2024. No other geographic exposure is specified in the filing excerpts.

Source: SEC 10-K, filed 2026-03-31

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