Absolutely Intriguing, @ice-nfts continues to do a real great Job on the Ice breaker X space, So as the speakers as well. Listening to the topics and Ideas shared by everyone added to my knowledge on these topics, I'm really gonna be honest though. I haven't really come across this topic before nor did I know anything of the sort is happening but the X space has brought me to a new reality of what's really happening in the blockchain world.
Of course, in this post I'm going to be delving in to share my take and thoughts on the topic and also share my little Idea about what RWA really are and how maybe it can bridge Web2 & Web3 together. Honestly, it seems kinda impossible to bridge these two together but surprisingly it is happening and we really need to understand the What's and How's of how it is becoming a reality.
Pre-Thoughts!
What I believe is, this projects is done to actually bring everyone into the Web3 reality and I believe it might work because if all or nearly all Real World Assets are tokenized then it becomes a necessity to key into this Idea, the world is evolving daily with different crazy things really, lagging behind will do no good and will seriously affect the way of life of one who is not ready to evolve with technology.
RWA(Real World Assets) and NFTs.
Ok so, you might be confused about what I've been ranting about. Ok, let's take a little break to explain what Real world Assets mean and also what NFT means and what tokenization also means.
Real World Assets* are technically any assets that in the real world that have value in absence of blockchain. When defining it in terms of crypto : Real world assets are tokenized assets in the real world that are brought on chain. You will understand better as I go on.
NFTs are Non-fungible tokens, they cannot be dropped into bits, like a 100 dollar bill can be dropped into buts like five 20 dollar bills or two 50 dollar bills. In the case of NFTs they can't be dropped into bits like I've explained.
Web 3 and Web2
If we look deep into it, we would see that ultimately Web3 and Web2 actually need each other to grow, Web2 marketing Web3 and bringing in users, getting more people into the decentralized reality. Web3 as well can help to solve some Web2 problems for example the issue of censorship on Web2. It is definitely more reasonable to be a part of Web3 because owning your account is definitely a win.
NFTs representing Real World Assets!
The project in view or perhaps that's already happening, is to tokenize real world assets like real estate, representing them with NFTs. In the case of where a house can be sold on chain with a smart contract within seconds or minutes. NFTs can represent the house and be a proof of ownership of the property. Originally, NFTs are a proof of ownership of an art,music and others, those were things it was originally used for but now RWA is also coming in, giving the use case of Nfts in another way entirely, tokenizing real world assets into NFTs.
Technically, I think this means there will be no need for written documents and the likes or probably a physical contact before it can be sold won't be needed as the NFT already signifies the proof of ownership.
Back to how Web3 and Web2 need to unite and work hand in hand to promote each other. Web 2 and bring more people into the knowledge of Decentralization and blockchain while Web 2 users get to earn from Web 3 as well because on Web 2, technically, even contents you create are not yours ,so as your account, your years of work can go down the drain in a split second. It's very saddening to experience such problems, having to start all over again as a content creator or an influencer, e.t.c.
The real question is will Real world assets create a bridge between Web3 and Web2. My answer will be a solid Yes, because we are already seeing it in action and in months and years from now. It will be well established, I believe.
You can check out the X space here to get different opinions and thoughts of different speakers on the space.