Blockchain RWA Market Surpasses AI in Growth Rate, According to Theory Ventures Founder
According to Tomasz Tunguz, founder of Theory Ventures, the market for Real-World Assets (RWA) on the blockchain is growing faster than AI.
RWA allows stocks and commodities like oil and copper to be traded on-chain, even when traditional exchanges are closed.
Tunguz cites data showing that Cerebras' pre-IPO perpetual prices were within 1.3% of its NASDAQ opening price, while SpaceX's perpetual open interest was around $215 million, with a total trading volume of $2.2 billion before its IPO.
He also notes that stablecoins have become the top 10 buyers of US Treasuries in the US, surpassing China, Norway, and Switzerland, and are used to settle RWA transactions.
Major institutions like Morgan Stanley, HSBC, Fidelity, Goldman Sachs, Franklin Templeton, Robinhood, and Stripe are also exploring RWA.