The tokenized commodity market is overwhelmingly dominated by gold, according to a recent report by a16z. Citing data from rwa xyz, the report highlights that as of May 7, 2026, the market for tokenized gold is valued at approximately $5 billion, significantly surpassing other commodities like silver. a16z attributes gold's dominance to its standardized nature and compatibility with digital assets, making it the most successful application in the Real World Assets (RWA) sector. In contrast, tokenized oil, energy, and computing power remain in their early stages of development, with market shares far below that of gold.