Tokenized pre-IPO investments are emerging as a new direction in the development of real-world assets (RWA), allowing retail investors to participate in trading shares of companies like SpaceX and OpenAI before they go public. This approach involves tokenizing shares of unlisted companies, making them accessible to a broader audience. Traditionally, the pre-IPO market has been characterized by special purpose vehicle (SPV) structures, high entry barriers, and low liquidity. Investors are advised that pre-IPO investments are more suitable for long-term holding of quality assets rather than short-term speculation, and they should be mindful of the issuer's structure and asset security risks.