With the RWA narrative gaining momentum, what other protocols and applications are worth watching?
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With the RWA narrative gaining momentum, what other protocols and applications are worth watching?
Besides the synthetic asset protocols Synthetix and MakerDAO, what other applications exist in the RWA sector?
Navigating Web3 tides with focused insightsIn the rotation of narratives, the market seems to have found its next direction—RWA. RWA stands for Real World Assets, referring to the digitization of any physical asset in the real world and tokenizing it via blockchain technology, enabling more lightweight and intermediary-free ownership verification and circulation. Digitalized U.S. dollars such as USDT and USDC are key applications within the RWA space.
Certainly, we've already seen applications of RWA assets in established DeFi protocols—for example, the synthetic asset protocol Synthetix and MakerDAO, which has introduced support for RWA-backed DAI. Next, let's explore other applications in the RWA sector.
Not investment advice.
Swarm Markets
Swarm brings traditional financial assets such as stocks and government bonds into the crypto world, operating under regulatory compliance. Platform users must undergo a simple KYC verification process before trading. Additionally, Swarm offers broad support for other RWA asset owners, enabling them—through APIs and smart contract solutions provided by Swarm—to bring diverse RWA assets including real estate, carbon credits, private equity, stocks, and bonds into the crypto ecosystem, where they can be tokenized and traded in a regulated environment.
On April 5, Swarm launched a new tokenomics model aimed at increasing the value of its native token SMT by burning unallocated token rewards and boosting reward distributions.
Reason to watch: Swarm introduces traditional financial investment products, enabling global investors to trade anytime. More importantly, its API and smart contract solutions will further accelerate RWA adoption.
LandX
LandX brings agricultural financing into the broader decentralized crypto market, allowing global investors to participate in agriculture investments across different regions.These funds are used to enhance farmers' productivity in agriculture.
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With financing, farmers can perform more efficient labor and irrigation, increasing crop yields per unit of land and improving soil structure.
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Funds raised through LandX are allocated toward education, agricultural monitoring technologies, and sustainable farming tools and equipment.
Investors, in turn, gain returns from agricultural development—similar to how Warren Buffett and Bill Gates invest in farmland.
Reason to watch: LandX addresses the difficulty farmers face in accessing financing. By introducing a new form of crypto-based financing, it enables fast funding and connection, promoting sustainable agricultural development.
Enjin
Enjin is a blockchain protocol focused on building an NFT ecosystem. It supports individuals, enterprises, and developers in creating, trading, distributing NFTs, and integrating them into virtual worlds. We can view Enjin as a comprehensive suite of products that tokenize various assets into NFTs.
Initially, Enjin was widely adopted in blockchain gaming. As it evolved, Enjin began integrating and tokenizing a wider range of assets.
Reason to watch: Most RWA assets are built on NFTs. Enjin provides Web2 with a comprehensive product suite to tokenize various assets, opening up exposure to Web2 asset tokenization.
Flux Finance
Flux Finance expands the application of U.S. Treasury assets in the crypto world. Collateralizers can use OUSG—a tokenized U.S. Treasury asset issued by Ondo Finance—as collateral to borrow stablecoins. Lenders, meanwhile, can provide USDC or DAI to earn interest income and liquidity tokens such as fUSDC.
Through integration with more DeFi protocols, fTokens will see broader usage across the DeFi ecosystem. This means Flux Finance offers higher capital efficiency for both borrowers and lenders—borrowers can access cash flow using tokenized Treasuries, while lenders can earn enhanced returns through fTokens.
Reason to watch: Flux Finance brings U.S. Treasury assets into the Web3 world, further enhancing capital efficiency and injecting new liquidity into DeFi.
Blocksquare
Blocksquare is a real estate tokenization solution built on Ethereum and IPFS. Businesses of all types—from startups to large enterprises—can use Blocksquare’s API solutions to digitize and fractionalize their real estate holdings and offer trading services.
Corporate-owned real estate can be divided partially or fully into up to 100,000 tokens, lowering the entry barrier for real estate investment.
Reason to watch: Blocksquare brings real estate into the Web3 world. To lower investment thresholds, it digitizes and fractionalizes properties and provides trading services.
Chromia
Chromia is a platform that combines blockchain with a shared data library, allowing people to build decentralized applications based on real-world scenarios. Beyond applications in DeFi and gaming, its adoption in the RWA space includes LAC PropertyChain.
LAC PropertyChain is a land management initiative across Latin America and the Caribbean, sponsored by the Inter-American Development Bank.
The Chromia blockchain provides technical support to enable transparent, simple, and secure land transactions.
Reason to watch: We can observe Chromia gaining significant adoption in the Web2 world. Beyond LAC PropertyChain, Chromia also provides blockchain support for Lingon (a platform for issuing and managing digital certificates), CapChap (a legal startup handling shareholder registry and corporate actions), and Relational Blockchain Nebula (an infrastructure service promoting blockchain adoption in Europe).
Finally
The application of RWA assets in the crypto space has long been seen as a driving force for broader adoption. After all, compared to other industries, the crypto industry remains niche. To achieve substantial growth, it needs new capital and users—and RWA assets represent one of the most important solutions today.
However, it's important to note that unlike purely on-chain assets, bringing off-chain assets on-chain involves challenges around transparency, auditing, compliance, and regulation. Only when the off-chain world fully recognizes the benefits blockchain technology can bring to RWA—such as disintermediation, enhanced liquidity, and clearer ownership verification—will the crypto world see widespread adoption of RWA assets.
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