Explanation:

• A (Correct): Tokenization involves converting ownership rights of physical assets into digital tokens on a blockchain or distributed ledger. This process enables fractional ownership and easier transfer of assets.

• B (Incorrect): An initial coin offering (ICO) is a fundraising method where companies issue crypto tokens to investors in exchange for capital. It does not involve representing ownership rights to physical assets.

• C (Incorrect): A consensus mechanism is a protocol used to validate and agree on transactions within a blockchain. It ensures the integrity of the ledger but is unrelated to the representation of ownership rights to physical assets.