Thread by @apcollective

RWA is broader than most people think.

Each project on this map is solving a different piece of the same puzzle.

Here's the breakdown of every category in our ecosystem map 🧵

Starting with infrastructure, the most essential part of the whole ecosystem.

Projects like @chainlink, @plumenetwork, @MANTRA_Chain, @StellarOrg, @XDCNetwork, @Zebec_HQ, and @hedera are building the connective tissue.

Tracking all of it in real time are @RWA_xyz and @DefiLlama. You can't invest in what you can't measure.

On the Treasuries side, @OndoFinance, @Securitize, @FTI_US, and @circle built tokenized treasuries inside the existing regulatory framework and won. @SuperstateInc, @Theo_Network, and @xStocksFi are scaling what comes next.

TradFi has traded commodity derivatives for decades. What @Theo_Network, @VeremRWA, and @Paxos are doing is putting the underlying assets onchain with almost instant settlement.

The categories solving access.

Traditional credit has always required intermediaries. What @maplefinance, @centrifuge, @goldfinch_fi, @ClearpoolFin, @CredefiOfficial, and @BackedFi are doing is routing institutional capital directly to borrowers onchain.

Real estate is the most complex asset class to bring onchain. @RealTPlatform, @Parcl, @PropbaseApp, @Lofty_ai, @blocksquare_io, @Brickken, and @PropyInc are building the infrastructure to make it work.

The gap between your onchain balance and real-world spend is closing. @KASTxyz, @ether_fi, @gnosispay, @ready_co, @itstuyo, and @solflare are building the rails to get there.

Culture and people are what make RWA real.

The space between "this is valuable" and "this is verifiably owned onchain" is still wide. @beezie, @courtyard_io, @Collector_Crypt, @phygitals, and @dyli_io are closing it for physical collectibles.

Fan tokenization already works. @sportfun, @Chiliz, @socios, and @Sorare proved it.

Beyond culture, some of the most complex problems in RWA are still being solved.

@StoryProtocol, @molecule_sci, and @VitaDAO are tokenizing clinical research and creative rights.

Computing rounds out the map. @rendernetwork, @AethirCloud, @opentensor, @Filecoin, @GensynAI, @ionet, and @nosana_ai are tokenizing compute and storage.

RWA is an infrastructure layer for how the world's assets get owned and distributed onchain.

If you're on this map, or trying to get on the next one, get in touch at or email us at [e-mail]