RWA Project Selection Conference Reveals Trends and Challenges of Asset Tokenization

Recently, a closed-door project selection meeting focusing on the tokenization of real-world assets (RWA) has attracted attention in the industry. Experts from traditional finance and the blockchain field gathered to thoroughly assess and select multiple RWA projects, discussing high-quality assets with investment potential.

With the Hong Kong SAR Government actively promoting a compliant digital asset strategy, the introduction of the "LEAP" framework provides strong support for the tokenization of real assets such as government bonds, artworks, gold, and energy. Against the backdrop of an increasingly完善 regulatory environment, RWA is becoming an important bridge for traditional finance to enter the digital asset space. The focus of the industry has shifted to how to practically implement RWA projects under compliance.

The discussion and voting results of this product selection meeting formed a clear industry consensus: the real utility of RWA is far more important than the mere concept of tokenization. The RWA projects that have drawn attention are dedicated to solving liquidity issues in the real market and adopting transparent and reasonable trading structures. For traditional financial investors, the investment value of RWA fundamentally depends on basic elements such as the credit quality, risk structure, and inherent liquidity of the underlying assets. Experts point out that an asset that lacks liquidity in the traditional market will not automatically gain liquidity just because it is tokenized and put on the chain.

The RWA projects discussed in this meeting cover several representative types:

1. Money Market Funds: This includes money market fund projects issued by U.S. Treasury bond funds anchored by top asset management institutions and leading public offering funds in Asia. These products have high credit ratings for underlying assets, providing stable returns and good liquidity, with a complete compliance structure. Voting results show that there is strong market demand for products that combine the safety of traditional finance with the convenience of Web3.

2. Physical Commodities: Asset tokenization projects represented by gold have received significant attention. A discussed gold token project links the token value to 100% physical gold reserves, ensuring asset safety through transparent auditing and custodial mechanisms. Voting data indicates that this project has garnered extremely high investment interest.

3. Credit-type assets: Tokenizing traditional credit assets to provide investors with higher fixed returns, but with corresponding credit risks. For example, personal consumer loan projects guaranteed by listed companies for credit enhancement and convertible bond projects using the "fixed income + options" model.

4. Future Cash Flow and Revenue Rights: A structured financing arrangement that tokenizes the expected future income of specific commercial projects. For example, a ship leasing project ensures stable rental dividends by signing long-term leases with high-credit tenants. Another project allows investors to share in the potential profits of an AI computing power distribution business.

5. Functional Tokens: The value of this type of Token is derived from its utility within a specific ecosystem and market demand, with price trends primarily dependent on IP popularity and secondary market sentiment. Traditional financial investors tend to be more cautious towards such Tokens.

The voting results show that different types of RWA projects attract varying scales of investment interest. Overall, projects with stable cash flows and clear risk structures are more popular, while functional tokens that purely rely on market sentiment are relatively less appealing.

The discussions and voting results of this selection meeting clearly indicate that tokenization is merely a technical pathway for asset on-chain, and the development of RWA fundamentally relies on whether it can meet the genuine needs of market participants. The liquidity and scalability potential of a project are key prerequisites for the long-term development of the RWA ecosystem. As assets from the real world, the credit quality of the underlying assets, the stability of cash flows, the legal structure, and the risk status of the issuer directly determine the long-term value and safety of the project.