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OVERVIEW

3 RWA Tokens In Every Category Worth Looking At 🤯

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total market and altcoin market cap charts:

REAL WORLD ASSET TOKENIZATION
Your RWA Tokenization Cheat Sheet 📰 

Everyone and their uncle has a “top RWA list” these days, but most are just recycled PR decks stapled to TVL charts, auto-sorting from CoinMarketCap/others, and buzzwords. 🙄 

So I figured I’d do something different - actually organize this thing, my way.

This breakdown covers fifteen real-world asset (RWA) tokens, sorted across five categories that reflect what’s actually being tokenized:

• Hard Assets & Cash Equivalents (like Treasuries and gold)

• Private Credit & Lending (SME loans, invoice finance, etc.)

• Real Estate & Infrastructure (homes, rentals, and big shiny buildings)

• Regulated Securities (stocks, bonds, funds, etc.)

• Niche RWAs & Intangibles (royalties, IP, carbon credits, weird stuff)

I split them this way because comparing Paxos Gold to a fractional strip mall token or a tokenized Tesla stock just doesn’t make sense. Each of these markets has different risk profiles, different regulatory landmines, and - most importantly - different alpha potential.

Speaking of which, let’s define that quickly:

Alpha is just risk-adjusted outperformance. Not just number-go-up but number-go-up relative to the risk taken. So I looked at things like TVL, actual tokenized deals, protocol revenue, token utility, growth, peers/competition, and narrative momentum.

And just so we’re clear - this is my own research. And you should do yours, too. 

No pay-to-play nonsense. You’ll notice a few big names missing (looking at you, Chainlink, Avalanche, Injective, Stellar). That’s not shade - I’ve just written about them ad nauseam already. And there’s other players in the RWA tokenization space you and I haven’t heard of.

This was about organizing the chaos a bit differently, taking a long hard look at who’s actually building, who’s deployed real assets, and who might be worth a closer look heading into the back half of 2025.

Let’s dig in. ⚒️

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REAL WORLD ASSET TOKENIZATION
Hard Assets & Cash Equivalents (T-Bills, Gold, Stable Yield) 🏦

1. Ondo Finance $ONDO.X ( ▼ 3.74% )

• Focus: Tokenized Treasuries, Money Market Funds (OUSG, USDY)

• TVL: $1.4B (tokenized Treasuries)

• Alpha Edge: Institutional-grade structure + partnerships with BlackRock; multi-chain access.

• Token Utility: Governance + potential fee capture (pending ONDO staking model).

2. Sky (formerly MakerDAO) $SKY.X ( 0.0% )

• Focus: DAI stablecoin backed by RWA vaults (Treasuries, Real Estate Loans)

• TVL: $5.6B, $2.2B in RWA collateral (over 30% of total DAI backing)

• Alpha Edge: Converts TradFi yield into DAI stability and MKR buybacks (revenue used to burn MKR).

• Token Utility: Governance; revenue-driven token burn mechanism acts as a supply sink for MKR.

3. Paxos Gold $PAXG.X ( ▲ 0.22% ) 

• Focus: 1:1 tokenized gold on Ethereum (ERC-20)

• TVL: $930M (market cap of tokenized gold in circulation)

• Alpha Edge: Trust-minimized gold exposure, usable as collateral across DeFi platforms.

• Token Utility: Asset-backed by physical gold; no governance (value directly tied to gold price).

REAL WORLD ASSET TOKENIZATION
Private Credit & Lending (Undercollateralized & SME Loans) 💸

1. Maple Finance $SYRUP.X ( ▼ 11.33% )

• Focus: Corporate & DAO lending, plus tokenized T-bill pools

• TVL: $1.75B in active lending and yield pools

• Alpha Edge: Real cash flow from institutional and crypto borrowers; now integrating TradFi on-ramps (e.g. Treasury pools).

• Token Utility: SYRUP token holders earn protocol revenue and govern pool parameters/delegation.

2. Centrifuge $CFG.X ( ▲ 0.73% ) 

• Focus: Trade finance and asset-backed lending (Tinlake pools for invoices, real estate, etc.)

• TVL: $446M in active RWA loan pools

• Alpha Edge: First to connect RWAs to MakerDAO vaults (pioneering on-chain drop/tin tranches). Uses NFT-based asset provenance for real-world collateral.

• Token Utility: Secures the Centrifuge chain via staking and used in governance decisions.

3. Goldfinch $GFI.X ( ▼ 1.85% ) 

• Focus: Emerging-market business loans via vetted fintech lenders

• TVL: $1T in Total Fund Manager AUM (from their site).

• Alpha Edge: Provides real yield (10-12% APY) from uncorrelated, real-world borrowers in developing markets.

• Token Utility: Governance of the protocol; previously used to incentivize liquidity (through yield farming rewards).

STOCKTWITS RETAIL RADAR
Retail Looks For A Bounce In Lucid Motors ($LCID) 🧐 

The electric vehicle maker’s shares recently probed all-time lows, but are making a turn to the upside this week. Stocktwits Sentiment and Message Volume turned positive ahead of this run and now suggests retail is looking for further upside. ⚡️ 

As the chart below shows, Stocktwits Sentiment hit a fresh low in late June before reversing sharply to the upside to start July. Now, both metrics are approaching their YTD highs following the announcement that Lucid’s premium Grand Touring Air drove 1,205 km on a single charge, surpassing the previous world record by 160km. The elevated chatter and sentiment suggest retail is looking for further gains ahead.

From a technical perspective, many traders in the Stocktwits community are using the recent lows near 2.00 as a point of reference, looking for a move toward broken support/resistance and the 200-day moving average at 2.60. 🧭 

Although the stock remains in a long-term downtrend, traders on StockTwits are looking to capitalize on this renewed momentum. Any weakness back toward 2.00 is viewed as a buying opportunity, while heavier selling is expected near 2.60.

Add $LCID to your watchlist to monitor this development. More importantly, to source these sentiment insights yourself, subscribe to Stocktwits Edge to unlock all the historical sentiment data for equities and crypto. 🔓️ 

*This real-time Stocktwits Sentiment use-case example was curated by Stocktwits’ Editor-in-Chief, Tom Bruni, and is solely for informational and educational purposes. Tom does not hold any positions in Lucid Motors as of the time of publishing. For any questions or comments, please email tbruni[at]stocktwits[dot]com.

REAL WORLD ASSET TOKENIZATION
Real Estate & Infrastructure 🏘️

Note: The really big player here, Avalanche, isn’t listed because I’ve written about it extensively, these are three other players in the space I thought looked interesting.

1. Blocksquare $BST.X ( ▼ 0.56% ) 

• Focus: Real estate tokenization as a service, with DeFi integrations (via Oceanpoint marketplace)

• Pipeline: $200M in tokenized realestate, $1B in tokenization deals inked (major partnership with Vera Capital)

• Alpha Edge: Provides the infrastructure for commercial real estate tokens, including an EU-compliant framework; integrates with DeFi for liquidity.

• Token Utility: BST token for governance and potential revenue share from protocol fees (e.g. Oceanpoint DeFi module).

2. Propchain $PROPC.X ( ▲ 8.38% ) 

• Focus: EU-regulated platform for fractional property investment

• TVL: €7.4M+ in tokenized properties

• Alpha Edge: Clean user experience and real users onboarded; Ernst & Young–audited structure gives credibility. Combines easy property investing with blockchain benefits.

• Token Utility: Platform token offers fee discounts, staking rewards, and governance rights within the ecosystem.

3. Landshare $LAND.X ( ▼ 1.12% ) 

• Focus: Tokenized single-family rental homes (U.S. real estate)

• Market Cap: $3M (utility/governance token for the platform)

• Alpha Edge: Gamified real estate investing via NFTs and DeFi yields – uses NFT “house flipping” games and yield boosters to drive user engagement and growth.

• Token Utility: LAND token is required for participating in RWA investments on the platform and to access yield boosters/NFT rewards; also used for governance votes.

REAL WORLD ASSET TOKENIZATION
Regulated Securities (Stocks, Bonds, ETFs) 📈

1. Polymesh $POLYX.X ( ▼ 3.72% ) 

• Focus: Dedicated Layer-1 blockchain for regulated security tokens

• Market Cap: $131M (POLYX token)

• Alpha Edge: Institutional-grade infrastructure with identity and compliance built into the protocol (ensuring only authorized participants can hold or transfer certain assets).

• Token Utility: POLYX is used for staking to secure the network, paying transaction fees (gas), and participating in on-chain governance.

2. LCX $LCX.X ( ▼ 4.54% ) 

• Focus: A regulated exchange and platform in Liechtenstein for tokenized securities and cryptocurrencies

• Market Cap: $105M

• Alpha Edge: Fully licensed to offer Security Token Offerings (STOs) and token sales under Liechtenstein law, effectively bridging TradFi and crypto markets.

• Token Utility: LCX token is used on the platform for paying exchange fees, participating in token sales, earning discounts, and staking for various benefits.

3. Swarm $SMT.X ( 0.0% ) 

• Focus: Tokenized public stocks (Apple, Tesla, etc.) and bond ETFs with 24/7 trading on-chain

• Market Cap: $3.25M

• Alpha Edge: Operates under BaFin regulation in Germany, enabling compliance-first trading of stocks on DeFi. Offers token rewards and an AMM-based trading model for equities, bringing continuous trading to traditionally off-hours markets.

• Token Utility: SMT token is used to reward traders on the platform, and for governance of the Swarm network and protocol parameters.

REAL WORLD ASSET TOKENIZATION
Niche RWAs & Intangibles (Royalties, Carbon, IP) 🧪

1. Mantra $OM.X ( ▼ 5.26% ) 

• Focus: Tokenized carbon credits, royalties, and intellectual property

• Market Cap: $200M, $446k TVL

• Alpha Edge: Partners with UAE's DIFC and Zand Bank, giving it regulatory reach and institutional credibility. Combines diverse RWA exposure with scalability.

• Token Utility: OM token is used for governance, staking, and potentially accessing future on-chain RWA products.

2. KlimaDAO $KLIMA.X ( ▼ 4.01% )

• Focus: On-chain carbon credit markets with DeFi infrastructure

• TVL: $3.4M

• Alpha Edge: ESG-aligned DeFi protocol with integrations into Polygon and Toucan Protocol. Leading project in carbon tokenization with global ESG tailwinds.

• Token Utility: KLIMA token governs the DAO and is used to incentivize carbon offset purchases and participation in the on-chain carbon economy.

3. Revest $RVST.X ( ▲ 0.01% )

• Focus: Financial NFTs for programmable intangibles (IP, royalties, licenses)

• Market Cap: $5M-$15M (very, very loose estimate).

• Alpha Edge: Infrastructure for turning off-chain intangible assets into dynamic NFTs with unlock conditions. Still early, but targets a massive $79T intangible asset market.

• Token Utility: RVST is used for protocol fees and governance. Stakers can earn a share of fees from NFT locking and royalty modules.

PRIVACY
Teens Meet Brick Wall: World’s Privacy-First Age Gate Explained 🛑 

I’ve got kids, so I image those of you reading this who also have kids would find this very interesting. 🤔 

World Network doesn’t slap a “18+ only” sticker on the door and hope kids respect it - the whole entrance is booby-trapped for under-agers.

The first blockade sits inside the World App: type in a fake birthday and the app bricks itself, then stays bricked if you try the old force-quit tango. Messed up your DOB by accident? Two options: wave an NFC passport near your phone or run through a third-party check.

Either way, Tools for Humanity and World Foundation never see your birthday, just the green check that says you’re grown-ups only. Not bad for a wallet that’s supposed to prove you’re human, right?

• Local-only birthdate check - processed on your device, never leaves it

• Permanent lockout - wrong age once, blocked everywhere twice

• ID fallback - NFC passport or third-party verification if you really are 18+

Orb Oversight & Machine Eyes

Next layer: Orb Operators.

These folks are trained to spot punk kids from a mile away - if they suspect baby face, they politely punt you to remote verification, no awkward “show me your papers.”

Then there’s the Orb itself. The creepy killer-orb looking chrome basketball runs a high-performance age model while scanning your iris. If the algorithm mutters “kid,” the process stops cold and you’re routed back to support, no biometric stored, no drama.

• Human filter - Operators refuse scans if you look underage

• ML age model - halts verification when youth is detected

• No central storage - biometric template never tied to birthdate

Privacy > Profit

World says they care more about keeping creeps out than building dossiers. There’s no central DB with birthdays, no secret marketing list, and no hand-off to ad giants.

System’s automated, tamper-resistant, and designed to know only one fact: you meet the age cut. That’s it. Call it zero-knowledge adolescence. 🧑‍🎓 

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