One RWA vertical I've always been bullish on conceptually, yet haven't seen anyone properly nail yet, is real estate. We've seen strong PMF across T-bills, stablecoins, but not yet property - which IMO is one of the asset classes that benefits most (due to fractionalisation of an asset class with an increasing barrier to entry for the average person). In the future, the ability to leverage against these tokenised positions (either on chain, or with banks/neo banks would be game changing - there are already private brokers who do it, but more alternatives could catalyse adoption). In terms of exposure, I recently invested in the @estatexeu seed - it's one to keep an eye on with TGE tomorrow. The whole platform is built around a) providing opportunities for investors to buy tokenised property, and b) providing a scalable solution for anyone (funds, retail) to tokenise their own real estate. Brock Pierce, the co-founder of Tether, is a backer. As with all new launches, I recommend assessing the valuation on launch. It makes sense that treasuries were the first RWA to take off, as it's simple and there are less variables. But now we have better tech + proof of demand, I think more complex RWAs (like real estate) will begin to develop.