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Happy Tuesday, fam.
Quick Tip:
Given the current macro conditions….the secret to investing isn’t buying when everyone’s bullish.
It’s buying when everyone’s bearish (like these past few weeks).
When sentiment is mixed like now? Do nothing.
Wait until consensus forms — then do the opposite.
Simple formula. Incredibly difficult execution.
Now let’s get into it…
Zoom Out First: Why RWAs Even Matter Right Now
Tokenization talk is HAWT right now and for good reason…it’s the future of crypto.
BlackRock, Franklin Templeton, and Citi keep hammering tokenization. Almost weekly there’s new investments coming on chain through the tutes.
Just last week:
BlackRock filed to tokenize its $150B Treasury Trust fund
Libre announced a $500M Telegram Bond Fund
MultiBank Group dropped a $3B tokenization deal in Dubai — the largest real estate RWA initiative ever (mentioned in yesterdays NL)
This is the beginning of a $30–50 trillion onchain asset boom by 2030.
But here’s the real issue:
Most RWAs are being built for institutions, not for crypto.
That’s why they aren’t working.
RWA Tokenization: The Gap Between Concept and Execution
You can’t just throw a traditional asset on a blockchain and expect people to care.
That’s like putting your local bank’s checking account on Ethereum and calling it “DeFi.”
What actually happens?
Tokens are illiquid
Held by a few whales
Permissioned and siloed
No composability with the rest of DeFi
Just look at $BUIDL.X ( 0.0% ):
via Messari
Yes, it’s backed by BlackRock.
Yes, it hit $1.5B AUM.
But… 🚨it’s held by just 44 wallets, with 25% of Ethereum supply sitting in one address (Ondo).
Outside of yield (which we’ve covered in previous NLs), there’s very little utility for the average onchain user. Womp, womp.
Stablecoins = The Blueprint RWAs Should Follow
Want to know what an RWA done right looks like?
Stablecoins.
They didn’t start by selling TradFi to banks.
They started by solving onchain pain:
Volatility
Settlement
Unit of account
They plugged into DEXs, lending, yield farming, and payments — crypto-native needs first.
Then came institutional adoption.
Utility → Adoption. Never the other way around.
Plume: RWA Infrastructure Actually Built for Crypto
Now let’s talk Plume $PLUME.X ( ▼ 6.39% ) — the one project that might actually be doing this the right way. (You know by now we love it and you should too.)
Instead of tokenizing dusty TradFi instruments for boomers, Plume is building a crypto-native ecosystem from the ground up.
Key Pillars:
Tokenization: Easy onchain asset issuance
Distribution: Onchain-native market rails
Composability: Built to plug into DeFi
Community Access: Designed for actual users — not banks
They’re not just a chain. They’re a full-stack RWA flywheel.
The Ecosystem Is Already Firing
Plume isn’t vaporware — it’s live and growing.
Traction to date:
180+ RWA projects onboarded
$4B in committed assets
280M testnet transactions
18M wallets
1M+ community followers
Notable projects:
Mineral Vault – U.S. mineral rights onchain
GAIB – Tokenized AI GPU compute yield
Music Protocol – Tokenized royalties & rights
Matrixdock – U.S. Treasuries and gold
Colb – Tokenized access to private wealth and pre-IPO deals
Notice the trend? These aren’t just “assets.”
They’re yield, access, and opportunity — designed to be used, not just wrapped.
The Team Behind the Mission
🏆 Founder Spotlight on @chriseyin, Co-founder of @plumenetwork.
From backing Series A to C enterprise apps at Scale Venture Partners to building Plume, bringing RWAs onchain, his journey is nothing short of inspiring 🚀
A thread 🧵👇
— #Aethir Ecosystem (#@AethirEco)
10:59 AM • Apr 28, 2025
Chris Yin (CEO): Scale Venture Partners, Coupa
Teddy Pornprinya (CBO): Binance, Coinbase Ventures
Eugene Shen (CTO): dYdX, Robinhood Crypto
Backers: Galaxy, Haun Ventures, Apollo, HashKey
Funding: $30M+ raised, $25M ecosystem fund
This isn’t a side hustle. It’s a heavyweight push to reshape how capital flows in Web3.
Final Nugget: Don’t Mistake Infrastructure for Adoption
The big lesson here?
Tokenizing a thing ≠ making it useful.
Without composability, RWAs are just museum pieces — shiny but untouched and that’s also why we’re early.
Stablecoins proved the playbook:
Solve real onchain problems
Win over the crypto-native user
Expand to TradFi once you’ve proven the model
Plume is betting that RWAs can follow that same path — and they’re building everything to make it happen.
This is a shot at rebuilding finance from the ground up, the crypto-native way, and we’re here for it. 🙌
Stay ahead. Stay sharp. Stay Nugg’d.
-Nick
Founder, CryptoNuggs