What Assets Truly Deserve to Be On-Chain? The Overlooked Trillion-Dollar Opportunity

The RWA (Real World Asset) narrative has been hot for years, with endless claims that “everything can be tokenized”—real estate, art, fine wine, carbon credits, and more. It all sounds revolutionary, but most of these ideas are fundamentally misguided.

Why? Because tokenization itself doesn’t create value—it only changes the form of an asset. Blockchain is a tool, not magic. Turning a bottle of Bordeaux into an NFT doesn’t make it a Moutai; it’s still the same wine.

The real question isn’t “what can we put on-chain?” but “what problem does putting it on-chain actually solve?” If an asset already circulates smoothly in traditional finance with low barriers for retail investors, tokenization is little more than a technical flex—flashy but ultimately pointless.

The assets truly worth tokenizing are those where liquidity is severely constrained not by the asset’s nature, but by intermediary costs and trust frictions baked into legacy systems.

Stocks: A “When,” Not an “If”

Take equities. T+2 settlement, cross-border friction, brokerage custody fees—these are all institutional frictions, not inherent to the asset itself.

A share of ownership in a company is legally no different from a private equity stake. The difference lies entirely in outdated infrastructure from the paper-certificate era—and that’s precisely what blockchain is designed to fix.

Stock tokenization isn’t a question of “if”—it’s “when.” Nasdaq’s 2025 filings for tokenized equities and extended trading hours (5x23) show the trend is already underway.

Yet stocks aren’t the ultimate prize. For most retail investors, accessing public equities is already straightforward—platforms like Robinhood and international brokers have largely solved discovery and entry barriers.

Private Equity: The Trillion-Dollar Market Locked Behind Walls

The real opportunity lies in private equity—a market that systematically excludes 90%+ of potential investors through artificial barriers:

• Minimum investments starting at $200,000–$500,000
• Accredited investor requirements (e.g., $200K+ annual income or $1M net worth in the U.S.)
• Multi-year lockups with virtually no secondary liquidity
• High transfer premiums and severe information asymmetry

These obstacles are almost entirely intermediary and trust costs, not fundamental to the asset class. Private equity shares are legally identical to public shares—the difference is pure infrastructure and gatekeeping.

And here’s the kicker: this is where the most explosive value creation happens.

The Best Candidates: Silicon Valley’s Elite Unicorns

Not all private equity is equal. A local restaurant chain tokenized won’t attract buyers. The assets worth the effort have exceptional fundamentals and massive upside.

Top-tier late-stage tech companies—SpaceX, xAI, Anthropic, Stripe, Polymarket, Kalshi, Kraken, Databricks, Discord—represent today’s most compelling (yet inaccessible) opportunities.

These firms boast deep moats:

• SpaceX dominates 90% of global orbital payload and has turned Starlink into a multi-billion revenue satellite telecom giant.
• Stripe processes a massive share of internet economy payments.
• xAI is aggressively scaling AI compute with enormous funding.

Most critically, value accrual has shifted earlier in the cycle. Companies now stay private far longer—median age to IPO has stretched from ~8 years pre-2017 to 10+ years today, with the trend accelerating.

For a company like SpaceX (founded 2002), a potential 2026 IPO would mean 24 years of private growth. Over half the total return is now captured before public markets open—leaving retail investors holding the “final baton.”

Tokenization’s core value proposition: let ordinary investors participate in the richest phase of value creation.

Jarsy: A Practical Bridge to Pre-IPO Shares?

(Sources: Yahoo Finance)

Among projects tackling private equity tokenization, Jarsy stands out for its compliant, real-asset-backed approach.

Registered in California with U.S. operations, Jarsy works as follows:

• Users buy tokens with USDC or fiat.
• The platform purchases actual private shares through regulated channels.
• Shares are held in independent Delaware SPVs (special purpose vehicles).

Key safeguards:

• 1:1 real backing: Every token corresponds to genuine equity in an SPV.
• Bankruptcy remoteness: Assets are segregated from platform operations.
• Ultra-low entry: Traditional private markets demand $200K+; Jarsy starts at $10.
• Secondary liquidity: Users can list tokens for sale—imperfect compared to Nasdaq, but vastly better than multi-year lockups.
• AMM settlement: Orders execute against an automated market maker when competitive; otherwise pending or adjustable.

Current lineup includes SpaceX, xAI, Anthropic, Stripe, Polymarket, Kalshi, Kraken, Ripple, Databricks, and Discord—focused on proven tech leaders in AI, space, fintech, and prediction markets.

Conclusion: Tokenization’s True Promise

Twenty years ago, few retail investors accessed Facebook’s early rounds. Ten years ago, SpaceX shares were unreachable for most.

Today, platforms like Jarsy offer an entry point—hundreds of dollars to participate in the pre-IPO journey of tomorrow’s giants.

This isn’t about creating new value from thin air. It’s about dismantling artificial walls that have long excluded ordinary investors from the most rewarding phase of company growth.

Blockchain’s greatest real-world impact may not be in meme coins or speculation—but in quietly democratizing access to the world’s best private assets.