Animoca Brands researchers Andrew Ho and Ming Ruan have identified significant growth potential in the tokenization of real-world assets (RWAs), which currently account for only $26 billion of the $400 trillion traditional finance (TradFi) market. Their August research paper emphasizes the vast opportunity for expansion in this sector, which includes asset classes such as private credit, Treasuries, commodities, equities, alternative funds, and global bonds. The researchers note that large asset managers are in a strategic race to develop integrated platforms capable of controlling the asset lifecycle, positioning themselves to capture long-term value in the evolving financial landscape.