I kind of agree with Anton's perspective https://antongolub.substack.com/p/tokenization-of-real-world-assets mostly for the liquidity part: supply of RWA ok, but I dont see the demand matching

Ex-crypto lead @Venmo/PayPal. Turning loyalty points into a global payments network at www.acme.am. Have a smile 🙂: https://bit.ly/earnsmile

I like this take. Nice wedge into the rwa space indeed

I agree - SPVs don’t scale and secondary market on-chain trades are unusable for everyday users.

imo the only RWAs that could be easily issued on-chain in the short term are loyalty points. They could drive widespread on-chain adoption, convincing institutions to progressively tokenize their assets.

I don’t disagree with any of the points in general. However, generalizing such a heterogeneous space is a mistake. Yes, of course, it’s not scalable to spin up many small customized SPVs. There are very large pools of assets like Alts though where you can solve real UX problems w blockchain tech.

I largely agree with Anton’s general thesis—that we need regulatory frameworks to make all RWAs better and more secure than traditional finance. 

However, there already exist killer apps... Stablecoins are RWA brought on chain. As are the newly emerging yield-bearing stables.