By 2025, real-world asset tokenization (RWA) is no longer just conceptual hype but a real market transformation taking place. From financing 200 million yuan worth of photovoltaic assets within 72 hours, to the ongoing expansion of over 28 billion USD RWA funds by leading global asset management institutions, and to the Swiss carbon credit trading market exceeding 1.27 billion USD in annual trading volume, this wave is rapidly rewriting the global financial landscape with visible speed.

Key figures are in front of us: a 90% increase in financing efficiency, a 40% reduction in costs, and investment thresholds dropping from millions to just 1 USD. What does this mean? Traditional finance assets like US Treasuries, commercial real estate, and energy assets, once only accessible to institutions, are now open to ordinary investors.

Here's a practical example. A leading asset management firm launched the BUIDL fund, which fractionalized US short-term Treasury bonds via blockchain. In less than 90 days since launch, the fund's scale more than doubled, attracting investors from 152 countries, with institutional investors accounting for as much as 67%. What does this indicate? It shows that this isn’t just a retail game; institutions are also seriously deploying their strategies.

But there’s a real-world issue: there are so many RWA projects that it’s hard to tell the truly promising ones from the rest. Many projects claim "asset tokenization" but are essentially just hyping concepts. The key to distinguishing genuine projects from pseudo-projects lies in one point: do they truly solve the "liquidity deadlock" of traditional assets?

Why are assets like US Treasuries, real estate, and infrastructure difficult to circulate in traditional finance? Because of lengthy transaction cycles, high participation thresholds, and information asymmetry. After going on-chain, 24/7 trading becomes normal, automatic profit distribution eliminates middlemen, and financing efficiency doubles. This is the real value of RWA.

In other words, RWA isn’t about creating new assets but about activating trillions of dollars’ worth of assets that are originally frozen within the traditional financial system. The opportunity is right in front of us; the question is whether you can identify projects with genuine business backing, rather than blindly following those empty shells that only have tokens but no assets.