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Progress on the Real Asset Chain Track: A guide to 50 RWA projects in 14 categories

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DeFi is changing the landscape by tokenizing physical assets such as real estate and art.

原文标题：《现实资产上链赛道进展：一文了解 14 个类别 50 个 RWA 项目》

Source: Bai Ze Research Institute

Real World assets (RWA) tokenization is the process of converting tangible assets into tokens or NFT, enabling them to be traded on the chain.

This opens up new opportunities for investors, as RWA has the potential to provide sustainable income uncorrelated to the crypto market, making it an attractive option for investors looking to diversify their investments. On-chain capital is looking for such sustainable and safe income opportunities, so RWA tokenization can be the catalyst for the next DeFi bull market.

Tokenization of RWA would also help to free up liquidity and allow funds to flow freely from traditional markets into crypto, increasing the potential value of DeFi.

Today, various asset providers are stepping onto the RWA tokenized narrative stage, creating demand for tokenization in sectors such as real estate, precious metals, luxury goods, climate, private/public fixed income, emerging markets and trade finance.

For example, tokenization of real estate - the tokenization of partial ownership of real estate, enabling investors to easily invest, the holder not only has a partial percentage of ownership, but also can receive real estate rental income. And homeowners raise money.

As the DeFi infrastructure project matures, RWA tokenization has gained further development and innovation.

Pioneering projects such as MakerDAO, Aave and Chainlink are leading the way in exploring the potential of RWA within the DeFi space.

While regulation of RWA is uncertain, the long-term potential for this narrative to reshape the DeFi landscape and bring value to both crypto and traditional markets remains high. So pay close attention to how this narrative develops.

According to cryptography researcher Crypto Koryo, there are currently more than 50 RWA projects in the market, and some of the projects' native tokens, such as $CREDI, $SMT and $FACTR, have increased more than 10 times in the past three months. However, most projects have yet to offer tokens. So what are the remaining opportunities for this narrative? Let's explore further.

First, real estate tokenization

LABS Group ($LABS)

LABS Group is a real estate tokenization platform that allows homeowners to tokenize their homes to raise money without an agent, as well as giving investors access to other, more liquid real estate tokens through the secondary market.

In addition, LABS Group has launched a Web3 resort platform, Staynex, which enables resorts, hotels and villas to be tokenized as NFT -- Staynex Passes. The Staynex Pass provides the holder with the utility of not only giving them the flexibility to travel worldwide and stay whenever they want, but also earning income from room rentals.

ELYSIA ($ELFI)

ELYSIA is a protocol that tokenizes RWA, making it easier to monetize RWA on the blockchain. Users can create their RWA as tokens and then sell them on ELYSIA's DeFi platform, ELYFI, or lend out other crypto assets as collateral.

Tangible ($TNGBL)

Tangible is an RWA tokenization ecosystem. This provides users with access to RWA tokenization through the launch of Real USD, a native revenue stablecoin backed by real estate.

At the Tangible level, anyone will be able to purchase valuable physical goods, including but not limited to art, fine wine, antiques, watches, luxury goods, from the world's leading suppliers, using Real USD.

When the user purchases the RWA listed in the Tangible, TNFT (" Tangible non-fungible token ") will be minted, representing the physical object. Tangible will deposit the physical items in a physical vault and send TNFT to the buyer's wallet. TNFT can transfer and trade freely.

Propy ($PRO)

Propy provides buyers, sellers and agents with a blockchain and smart contract-based real estate trading platform that facilitates instant transactions and reduces fraud. Currently, the platform processes more than $4 billion in transactions with real estate partners located throughout the United States.

Parcl

Parcl is a synthetic asset trading platform focused on real estate that provides investable price movements in the global real estate market, allowing users to browse the global real estate market and go long or short based on how they believe property values will rise or fall.

RealT

RealT was founded in 2019, and in the more than three years since then, the platform has handled over $52 million in real estate tokenization, allowing investors to simply buy RWA tokens. More than 970 homes have been tokenized on the RealT platform, located in Detroit, Cleveland, Chicago, Toledo and Florida.

Theopetra

Theopetra and its partners T-Homes and REAT will build a real estate ecosystem around the $THEO token, aiming to make housing affordable for Americans at the bottom of the ladder.

EktaChain

EktaChain is a decentralized blockchain-based real estate trading platform designed to make it faster and easier for everyone to engage in the real estate business. The platform allows anyone to trade real estate for as little as $100.

Mattereum

Mattereum is a platform for converting RWA tokens into NFTS, including luxury goods, art, and real estate. There is a simple legal framework behind each NFT transaction to deal with any disputes that arise, and it applies to more than 160 national laws.

Robinland

Robinland's mission is to build a bridge between TradFi and DeFi in the real estate industry. Tokenization of high-quality rent-generating commercial real estate assets allows liquidity to be obtained from individual investors or institutional lenders such as MakerDAO.

HOME Coin Finance

HOME Coin Finance offers investors the opportunity to earn a steady income from $HOME, a stablecoin backed by home mortgages.

Second, multi-asset tokenization

Paxos ($PAXG)

Paxos is a blockchain financial infrastructure platform, providing enterprise customers with assets tokenization, custody, trading, settlement and other services, so that any assets can be trusted and instant transfer at any time.

While U.S. regulators forced Paxos to stop minting $BUSD in February, the platform continues to promote its Gold anchor coin, $PAXG (PAX Gold). Paxos was released back in 2019. PAXG, and in the more than three years since, it has quietly grown to a market capitalization of about $500 million. Unlike ETFs, which represent gold, $PAXG represents the fact that the holder holds physical gold and can redeem 1:1 physical gold at any time.

Notably, Paxos is one of the most funded blockchain companies, raising more than $500 million in total funding from investors including OakHC/FT, Declaration Partners, Mithril Capital, and PayPal Ventures.

Tokeny Solutions

Tokeny provides enterprise-class tokenization infrastructure that allows businesses to issue, transfer, and manage assets on the blockchain in a compliant manner, enabling them to increase asset liquidity.

StrikeX ($STRX)

StrikeX is an RWA tokenized ecosystem with products that include:

• TradeStrike (RWA Token Centralized trading platform, CEX)

• Stock Token Bridge (RWA token creation platform)

• StrikeX Wallet

• TradeX (RWA Token decentralized trading platform, DEX)

• Xchain (private blockchain serving the StrikeX ecosystem)

• $STRX (StrikeX Ecosystem Native token)

INX ($INX)

INX provides an SEC compliant trading platform for RWA tokens and cryptocurrencies.

Curio ($CUR)

Curio is an RWA tokenized ecosystem with products that include:

• Rollapp (RWA token creation platform)

• & have spent CurioInvest (Tokenizing limited edition cars so users can co-invest and share profits)

• $CSC (Swiss Franc Stablecoin)

• CapitalDEX (RWA Token decentralized trading platform, DEX)

• Wrapped Fractional Physical-NFTs (ownership, tokenization of intellectual property)

3. TradFi

Polytrade ($TRADE)

Polytrade has built a decentralised trade finance platform designed to provide seamless lending to companies across a range of industries.

Defactor ($FACTR)

By linking traditional financing with DeFi, Defactor aims to provide companies with financing opportunities and liquidity.

Sologenic

Sologenic is an RWA tokenized ecosystem with products including:

• Sologenic Asset Tokenization (RWA Token Centralised trading platform, CEX, will tokenize over 40,000 stocks, ETFs and commodities)

• & have spent Sologenic DEX (RWA Token decentralized trading platform, DEX, which can also trade the above tokenized assets)

• & have spent Sologenic NFT market

• & have spent Sologenic purse

ConsolFreight

ConsolFreight is a blockchain platform focused on the digital transformation of the shipping industry, providing trade finance and cargo insurance services.

4. Layer-1

Polymesh Network ($POLYX)

Polymesh is an institution-level licensing blockchain built specifically for RWA tokens. Highlights:

• & have spent Put governance, identity, compliance, and confidentiality at the heart of the blockchain.

• & have spent All participants -- whether token issuers, investors, or node operators -- must first pass decentralized KYC verification.

• Node operators must be financial entities.

• The original token $POLYX is classified as a functional token by Swiss law. (Based on guidance from FINMA, the Swiss financial regulator)

MANTRAO ($OM)

MANTRA Chain is a L1 blockchain built on the Cosmos SDK that aims to be a collaborative network between businesses, attracting businesses, developers to build anything from NFT, games, metacomes to DEX for compliance.

The first dApp on the MANTRA Chain, MANTRA Finance, aims to become a globally regulated DeFi platform, bringing the speed and transparency of DeFi to the opaque world of TradFi, allowing users to issue and trade RWA tokens.

Realio Network ($RIO)

Realio Network is an interoperable L1 blockchain focused on the issuance and management of RWA tokens.

Provenance ($HASH)

Provenance is a L1 blockchain founded in 2018 and built on the Cosmos SDK that aims to enable financial institutions and fintech companies to seamlessly and securely issue and trade financial asset tokens.

Since then, the chain has enabled more than 60 financial institutions, fintech companies, DEFIs as well as banks and credit unions to issue, manage and trade financial asset tokens on a large scale. Provenance handled more than $12 billion in financial asset deals through 2023.

Intain

Intain is a L1 blockchain focused on financing and credit.

5. Climate /ReFi

KlimaDAO ($KLIMA)

KlimaDAO offers individuals and organizations the opportunity to participate directly in the carbon credit market through its infrastructure and $KLIMA tokens backed by real carbon assets.

KlimaDAO aims to address key issues in the carbon credit market:

• & have spent Illiquid: there are many different kinds of carbon credits; Different intermediaries divide the total liquidity of the carbon market.

• & have spent Opacity

• & have spent Low efficiency

Regen Network ($REGEN)

Regen aims to be a catalyst for a global renewable ecosystem using blockchain, DeFi and other Web3 tools. Users finance renewable projects by buying and trading carbon credit tokens and eco-credits.

Toucan Protocol ($BCT)

Individuals and businesses can use Toucan's infrastructure to convert carbon credits into tokens, extending protection for the planet.

Flow Carbon

Flow Carbon is a platform for tokenizing carbon credits, helping to increase transparency and liquidity and helping to expand the carbon credit market.

Vi. Agriculture

Agro Global Token ($AGRO)

Agro Global Token is a cryptocurrency that aims to provide solutions to agricultural problems and make large investments.

LandX Finance ($LNDX)

LandX is a decentralized protocol designed to reduce the distance between farmers and investors.

LandX agreements are agreements between borrowers (farmers) and investors, who provide the farmer with money in exchange for a portion of the future income from the land, while the farmer solves the problem of financing the purchase of new land and equipment.

Vii. Identity

SpruceID

SpruceID, a company specializing in decentralized identity and Web3 authentication, has developed SSX, an identity toolkit that enables users to manage and control their digital identities without relying on third parties.

Quadrata

Quadrata is a decentralized identity system that allows businesses and consumers to generate a digital passport (SBT, non-transferable) from their ID card/passport, with seamless access to the entire Web3 dApp network on a privacy-protected basis.

8. Private Equity

Credefi Finance ($CREDI)

Credefi connects cryptocurrency investors with SME borrowers and aims to provide decentralized and secure lending to real-world businesses, while offering lenders a fixed income that is not tied to the volatility of the crypto market.

KKR

Investment giant KKR, which has about $471 billion worth of assets under management, has tokenized its healthcare feeder fund on the Avalanche blockchain to increase accessibility for individual investors. While large institutional investors and ultra-high net worth individuals typically require millions of dollars to participate in KKR funds, the minimum for individual investors to invest through this "tokenized" feeder fund is reduced to $100,000.

9. Public equity

Backed Finance

Backed Finance is a platform for trading RWA tokens, in which stocks, ETFs and other RWA are tokenized into ERC-20 tokens that can track market prices. Tokens can be transferred freely between wallets and are 100% backed by RWA reserves.

Private fixed income

TrueFi ($TRU)

TrueFi is a decentralized credit agreement that enables institutions to obtain credit at a fixed rate to reinvest in their business in a capital efficient manner. Investors can select the corresponding loan capital pool of USDC/USDT/TUSD/BUSD to add liquidity to it, thus lending interest and earning income. TrueFi is currently focusing on providing unsecured stablecoin lending services to crypto-native trading investment institutions, and will gradually explore unsecured lending to companies and individuals in the future.

Maple Finance ($MPL)

Maple is a decentralized credit protocol that provides institutions with unsecured loans. Investors can deposit funds ($USDC and $MPL) into the loan pool as liquidity providers to fund the loan and earn income.

Clearpool ($CPOOL)

Clearpool is a decentralized credit agreement that provides unsecured loans to institutions. (Lenders can only provide liquidity to pools of institutional funds to which they are invited.)

FortunaFi

Fortunafi is a decentralized credit agreement that provides unsecured loans to businesses that pay interest on a percentage of their monthly business income.

Swarm Markets ($SMT)

Swarm Markets provides a compliant DeFi infrastructure for RWA token offerings, liquidity and trading, and is overseen by German regulators.

Ondo Finance ($ONDO)

Ondo Finance launched a tokenized fund based on U.S. Treasury and corporate bonds.

12. Emerging Markets

Goldfinch ($GFI)

Goldfinch is a decentralized credit protocol for real world debt funds and fintech companies, and currently has more than $100 million in loans. Investors can contribute money to a pool of lending companies to earn interest.

Br Finance

Br Finance is a decentralized credit agreement focused on agricultural products, where farmers can tokenize and pledge their agricultural commodities on the chain for loans, while agricultural commodities are held in physical warehouses. Agricultural price volatility remains low, thus protecting the interests of both borrowers and lenders.

Credix Finance

Credix Finance is a decentralized credit agreement focused on providing unsecured loans to emerging markets.

13. Security tokens

Centrifuge

Centrifuge is an on-chain credit ecosystem designed to provide small and medium-sized business owners with a way to mortgage their assets on the chain and get liquidity.

Centrifuge launched in 2017 and has funded a total of $317m of assets in its market.

Securitize

Securitize has pioneered a fully digital, all-in-one platform for issuing, managing and trading digital asset securities that comply with the existing US regulatory framework.

Xiv. Miscellaneous

PropChain ($PROPC)

Propchain is a blockchain-based real estate token investment marketplace that provides users with access to invest in the global real estate market, as well as tools of various nature, size and valuation.

Propchain solves many of the problems real estate investors encounter in traditional markets by constantly sourcing new properties and listing tokens after due diligence to ensure that there is never a shortage of investment options on the platform, as well as ensuring that properties are safe and sustainable.

Propchain allows investors to invest as little as €1,000. All properties are hosted by Propchain's property management team, and investors only need to collect rent from the properties.

Galileo Protocol

Galileo Protocol is a platform for converting RWA tokens to NFT, which supports multi-chain transfer. Currently, the platform mainly provides tokenized services for luxury goods.

LODE

LODE is a tokenized market focused on gold and silver. It created a token representing silver, $AGX, and a token representing gold, $AUX, so that investors can quickly invest, trade, and transfer. Gold and silver entities are 100% stored in LODE's physical vaults.

Project 79

Project 79 is a tokenized trading market focused on gold, mining, precious metals warehouses, precious metals refineries, and land ownership.

Homebase

Homebase is a real estate tokenization platform. With Homebase, users can invest in rent-generating residential real estate for as little as $100.

Lingo

Lingo is a tokenized platform for hotel real estate, where token holders can not only earn revenue, but also gain access to free housing opportunities in hotels around the world depending on how long they are held.