According to Bijie.com, on November 1st, Aria, the IP RWA protocol within the Story ecosystem, announced at an offline Meetup in Seoul, South Korea, that it will increase the airdrop ratio for the IP community from 2% to 10% to thank the Story community for its long-term support. The airdrop will be gradually unlocked to eligible IP holders after the token's listing. Currently, Aria has been launched as the first project on the Buildlpad Vibe platform for community distribution, raising $600,000, with a project FDV of $60 million. KYC and subscription for this launch will end at 10 PM on November 2nd, and the contribution phase will begin at 10 AM on November 3rd.

According to ME, on October 31st (UTC+8), Byreal achieved a trading volume of $1.36 million in XAUt0 within the past 24 hours, not only maintaining its leading position in the Solana ecosystem but also becoming the world's largest XAUt0 trading market among all on-chain DEXs with a 38.86% market share. Byreal's XAUt0-USDT liquidity pool provides users with additional liquidity incentives, currently boasting an annualized return of 247.68%. XAUt0, launched by Everdawn based on LayerZero's Omnichain Fungible Token (OFT) standard, is a full-chain evolution of Tether Gold (XAUt), enabling seamless circulation of physical gold across multiple chains. With its leading depth and high-yield incentive mechanism, Byreal has become a core liquidity hub for on-chain gold trading, continuously driving the adoption and trading activity of RWA in the multi-chain ecosystem against the backdrop of the Solana ETF listing.

According to Bijie.com, Aria, the IPRWA protocol within the Story ecosystem, announced its community offering of its native token, ARIAIP, today on Buildlpad Vibe. This community offering aims to raise $600,000, with a FDV of $60 million. Participation is currently limited to users in South Korea and select EU countries, marking the first community token offering in the Web3 space based on intellectual property. All tokens acquired through this offering will be 100% unlocked at TGE. KYC and subscription periods will run from 2 PM on October 31, 2025 to 10 PM on November 2, 2025, with the contribution phase starting at 10 AM on November 3. Aria previously completed a $15 million seed and strategic funding round led by Polychain Capital and Neoclassic Capital, and this week received an additional $500,000 in strategic investment from OKX Venture and Selini Capital.

According to Bijie.com, on October 31st, DRAGON, a new generation cultural carrier of "Anime IP x Web3" driven by the core forces of the Japanese anime industry, is the on-chain IP universe of the national-level anime IP "Dragon Ball" and the first IP RWA token of BNB CHAIN. The founder recently revealed on Bonk's Chinese Space that the acquisition of a second Dragon Ball series IP has been completed and will be announced soon. The official announcement from DragonVerse also mentioned TCG (Trading Card Game) and the fan economy. As a flagship pilot project for the mainstream Japanese anime industry to enter Web3, DRAGON, driven by leading figures in the Japanese anime industry who frequently appear on screens for "Weekly Shonen Jump" and Akihabara, continuously adds Dragon Ball series IP revenue rights to the blockchain to create an on-chain IP empire for the Dragon Ball series, allowing investors to become co-owners of their beloved IP and share in the royalties. The official announcement stated that royalty revenue sharing is about to be launched, aiming to help usher in the application era of BNB CHAIN, with cultural value as the core driving force, and promote the deep integration of Web3 and mainstream content industries.

According to Bitwise's Chief Investment Officer Matt Hougan, Solana is increasingly becoming a favored asset among investors seeking alpha. Institutions view it as a "challenger asset" to Ethereum, and four factors are driving large investors' interest in Solana: 1. A pragmatic approach of "implementation first, optimization later." Hougan stated that Solana has established a reputation for "rapid action and prioritizing implementation over perfection." While Ethereum spends years debating upgrade plans, Solana launches its product first and then optimizes it through real-time iterations—this efficient pace is attracting institutions tired of Ethereum's slow roadmap. 2. A leading position in tokenization. Hougan pointed out that Solana has become the preferred blockchain for "equity tokenization": many Real-World Asset (RWA) projects prioritize Solana over competitors when choosing underlying infrastructure. "Solana is in a leading position in the equity tokenization race," he emphasized. 3. Attractive High Staking Yields: Institutions tend to passively generate income from their assets, and "staking blockchains" like Solana and Ethereum perfectly meet this need—with Solana's staking business performing particularly well. Data shows that over 81% of SOL tokens (worth approximately $51 billion) on the Solana network have been staked; in comparison, only 27% of ETH on the Ethereum network is staked. More importantly, Solana's annualized staking yield is approximately 7%, allowing institutions to not only enjoy potential price appreciation but also obtain stable passive income; Ethereum's annualized staking yield is only about 3%. 4. Greater Growth Potential: The final factor relates to Solana's "scale." Hu Gen believes that one of the core reasons institutions are interested in Solana is its much smaller size compared to Ethereum, thus possessing greater growth potential. "Precisely because it is much smaller than Ethereum, Solana has more room for growth," he explains.

On October 31st, CoinWorld reported that venture capital firm 1kx released its "Onchain Revenue Report H1 2025," summarizing on-chain verification data from over 1200 protocols. The report shows that the crypto industry's "on-chain economy" has formed a $20 billion ecosystem and is growing rapidly. The report points out that on-chain fees have become the most direct indicator of real market demand. DeFi protocols still account for 63% of total on-chain fees, but emerging sectors are growing rapidly: wallet revenue increased by 260% year-over-year, consumer applications by 200%, and DePIN (Decentralized Physical Infrastructure Network) by 400%. Meanwhile, Ethereum's share of the overall market has declined, although its transaction fees have decreased by 86% since 2021, but the number of ecosystem protocols has expanded eightfold. 1kx points out that a mismatch between market capitalization and actual revenue is emerging: the top 20 protocols account for 70% of on-chain fees, but the market capitalization of DeFi projects is only 17 times their revenue, while the average valuation of public chains is as high as 3900 times, showing investors' premium for "nation-level" narrative assets. Looking ahead, 1kx predicts that total on-chain economic fees will reach $32 billion by 2026, a year-on-year increase of 63%, mainly driven by RWA (Real-World Asset Tokenization), the DePIN network, wallet monetization, and consumer-grade crypto applications. The report believes that with increased regulatory clarity and infrastructure expansion, the on-chain economy is entering a "mature stage"—a new cycle driven by usage, revenue, and value distribution.

According to a report released by Standard Chartered Bank on October 30th, tokenized real-world assets (RWAs) could reach a cumulative value of $2 trillion over the next three years as more global capital and payment activities migrate to more efficient blockchain networks. The trustless structure of DeFi is poised to challenge the dominance of the traditional financial system (TradFi) controlled by centralized entities. Standard Chartered predicts that as DeFi's applications in payments and investments grow, the market capitalization of tokenized RWAs (non-stablecoins) could reach $2 trillion by 2028. Of this $2 trillion, it is estimated that: $750 billion will flow into money market funds, $750 billion into tokenized US equities, $250 billion into tokenized US funds, and another $250 billion into the less liquid portion of private equity, including commodities, corporate bonds, and tokenized real estate. Currently, the cumulative value of RWAs is approximately $35 billion; reaching a market capitalization of $2 trillion would represent a growth of over 57 times in the next three years.

On October 30th, Avalon Labs officially announced the release of its first white paper on the on-chain AI model and computing power leasing market, proposing a new AI-Model-as-a-Service (AI-MaaS) software service concept. This product will debut on the BNB chain. The team revealed that the first AI model launched was jointly released by Avalon Labs and its AI partners. It is the industry's first reinforcement learning model, built on NVIDIA H200 GPUs and owned by the Avalon Labs team. Simultaneously, Avalon Labs launched a new RWA compliant on-chain framework—Commercial Use Rights Tokenization (CRT). Tokens issued under this standard have legal effect, granting holders legal rights to related commercial assets or services. This move is expected to revolutionize the on-chain model of real-world assets. Avalon Labs, a leading Bitcoin on-chain financial platform, is co-led by YZi Labs and Framework Ventures. This foray into the AI RWA field signifies a more diversified business strategy for Avalon Labs.

According to CoinWorld, NovaRWA, the RWA infrastructure project, recently announced a strategic partnership with Web3 investment firm Mapleblock Capital. The two parties will collaborate deeply on RWA asset on-chaining, ecosystem expansion, and market growth, accelerating the application of real-world assets in the blockchain field. Furthermore, the project team revealed that NovaRWA will begin trading and circulation in mid-next month, with more details to be announced soon.

According to ME, as of October 30th (UTC+8), RWA's total assets reached $35.54 billion, a 10.20% increase compared to the past 30 days. Meanwhile, the number of total asset holders reached 514,698, a 9.52% increase compared to the past 30 days.

According to ME News, the Hong Kong Fintech Week 2025, one of the world's most influential fintech events, will kick off in Hong Kong on November 3rd (UTC+8). HashKey Group will once again participate as a Gold Sponsor and will exclusively host the RWA: Onboard Summit on November 4th. On November 3rd, Anna Liu, CEO of HashKey Tokenisation, and Deng Chao, CEO of HashKey Capital, will share their insights and participate in a roundtable discussion on RWA, DAT operational strategies, and feasible practices in different jurisdictions at the main forum. On November 4th, the RWA: Onboard Summit, exclusively hosted by HashKey Group, will focus on four core topics: Real-World Asset On-Chain (RWA), market innovation in ETFs and DAT, compliance infrastructure construction, and the innovative integration of AI + Web3. At the event, HashKey will also launch its one-stop CaaS (Crypto-as-a-Service) platform, a comprehensive upgrade to its institutional-grade Web3 solution. More than 20 leading figures from finance, regulation, and academia, including Deutsche Bank, Bosera Funds, and Pacific Insurance, will participate in four themed roundtable forums to provide global institutions with practical and forward-looking insights for deploying digital assets. HashKey Group cordially invites global industry pioneers to witness this intellectual feast on the future of digital finance and explore the infinite possibilities of connecting traditional and digital finance.

According to official news from Bijie.com on October 30th, at the Blockchain Life Dubai 2025 conference, Huobi HTX Ventures was awarded "Best Web3 Venture Capital Fund of the Year" for its forward-looking layout and continuous influence in the global Web3 investment field. At the same time, Huobi HTX successfully ranked among the top three best centralized exchanges of the year. These two honors reflect the global blockchain industry's high recognition of Huobi HTX's innovation, investment strategy, and industry driving force. Huobi HTX Ventures will continue to uphold its mission of "making blockchain easier to use and more practical," focusing on key areas such as DeFi, AI Agents, RWA tokenization, and infrastructure, supporting the growth and implementation of high-quality Web3 projects globally, and contributing to the sustainable development of the industry.

According to Bijie.com, on October 29th, market data showed that the Novastro token XNL of the RWAfi project fell below the public offering cost price of $0.05 after TGE, and is currently trading at $0.014. Based on the current price, users who participated in the public offering have lost approximately 72%.

According to Bijie.com, at the 2025 Blockchain Life Summit in Dubai on October 29th, Alec Goh, Head of Huobi HTX Ventures, stated that the October 11th market event exposed the structural fragility of the current crypto market, including insufficient liquidity, concentrated leverage risk, and a high dependence on a few large market makers. He pointed out that the automatic deleveraging mechanism of exchanges amplified market volatility during the event, leading to a further decline in market depth. He believes the market is currently in a consolidation phase of the "post-speculation era," similar to the cycles of 2016 or 2019. During this phase, although market enthusiasm has decreased, infrastructure builders are steadily accumulating market share. To restore retail investor confidence, the industry needs to refocus on robust liquidity design, security systems, and high-quality projects. Regarding future trends, Alec believes that the integration of AI and blockchain is entering a substantial construction phase. In the next 2-3 years, direct interaction between AI agents and smart contracts, as well as new financing models such as "Initial Model Offerings (IMOs)," may emerge, which could become the core driver of the next round of growth. He added that Huobi HTX Ventures is currently focusing on projects that make blockchain "more usable and practical," including DeFi, infrastructure, AI Agents, and RWA tokenization, with the aim of driving the transformation of blockchain from a technological tool to mainstream financial and technological infrastructure.

According to an official announcement, OKX will officially launch the PIGGYUSDT perpetual contract on its website, app, and API at 4:00 PM (UTC+8) on October 29, 2025. Bijie.com also reports that Piggycell, a leading South Korean power bank network, is a pioneer in RWA and DePIN protocols, transforming real-world charging activities into on-chain tokenized activities.

According to data from msx.com, at the opening of the US stock market, the Dow Jones Industrial Average rose 0.4%, the S&P 500 rose 0.29%, and the Nasdaq rose 0.5%. The crypto sector saw mixed gains and losses, with ETHZilla up 1.31%, Bitmine (NASDAQ: BMNR) down 0.89%, Circle (NYSE: CRCL) down 0.59%, Coinbase up 0.95%, and Strategy down 0.45%. According to msx.com, a decentralized RWA trading platform, hundreds of RWA tokens have been listed, including US stocks and ETF tokens such as AAPL, AMZN, GOOGL, META, MSFT, NFLX, and NVDA.

According to Bijie.com and ME, on October 28 (UTC+8), AlloyX (NASDAQ: AXG), a Hong Kong-based gambling platform, and JunHe Law Firm (Hong Kong Branch) officially signed a strategic cooperation agreement. The two parties will focus on the institutionalization and compliance of the tokenization of real-world assets (RWAs). By combining AlloyX's technical capabilities in digital financial infrastructure with JunHe's expertise in legal compliance, they will jointly build a secure, transparent, and auditable RWA compliance ecosystem, promoting the high-quality development of Hong Kong's digital finance sector. Dr. Zhu Haokang, Co-founder and CEO of AlloyX, said: "Compliance is the foundation of the bridge connecting the real world and digital finance. This collaboration will lay a solid foundation for the global institutionalization of RWA." Qiao Zheyuan, Partner of Junhe Law Firm's Hong Kong Branch and General Coordinator of Junhe's Virtual Assets Business Department, said: "We look forward to working with AlloyX to explore best practices in RWA supervision and legal frameworks, and jointly help Hong Kong build a new international digital financial landscape." AlloyX will continue to work with ecosystem partners to build a compliant, secure, and sustainable future for RWA.

According to Bijie.com, SoSoValue's high-performance L1 ValueChain has officially launched its mainnet. Its high-performance trading subchain, SoDEX, will also be open to global users for whitelisting applications. The platform token, $SOSO, will also be fully upgraded to the mainnet's native gas and governance token. According to official information, SoDEX currently boasts 100,000 transactions per second (TPS). The architecture of this high-performance trading chain features two key features: 1. SoDEX achieves a truly decentralized matching architecture through the distributed deployment of its matching engine across different validator nodes. This makes SoDEX one of the few trading systems in the industry to fully on-chain its matching logic. This aligns with Hyperliquid's technical approach, but achieves greater scalability and modularity at the architectural level. SoDEX utilizes two independent high-performance trading subchains, supporting Spot and Perps respectively. Using the EVM subchain as the account system, these multiple high-performance subchains are co-located on the ValueChain consensus layer, enabling support for a wide range of assets, including crypto-native assets and Reliable Asset Access (RWA). It provides users with a spot and perpetual contract trading experience comparable to centralized exchanges; each transaction can be viewed in real time on a block explorer, achieving an on-chain trading experience that combines security, performance, and transparency. Second, it reuses the Mirror Protocol infrastructure of the SoSoValue Indexes Protocol, employing a combination of third-party custody and a bridge solution to enhance the security of multi-asset cross-chain transactions. On-chain data shows that the SoDEX testnet has attracted over 400,000 registrations, of which 40,000 users have obtained testnet whitelist status, with an average daily on-chain order volume of 3.9 million. Currently, over 80,000 users have applied for the mainnet early bird whitelist. Officials have announced that SoDEX has opened applications for Closed Alpha whitelisting and will distribute airdrop rewards in early 2026 to users who participate in Closed Alpha trading activities and earn points. Users can apply for whitelisting at the official website, sodex.com. SoSoValue's crypto investment and research platform already has tens of millions of registered users worldwide. Its vision is to enable the general public to participate in crypto investment simply and equally, and enjoy the long-term growth dividends of the crypto industry.

Securitize, the "real world asset" (RWA) platform that powers BlackRock's tokenized money market funds, will go public through a merger with a special purpose acquisition company (SPAC), CEO Carlos Domingo said in an exclusive interview on October 28. The fintech company will merge with Cantor Equity Partners II, Inc., a shell company sponsored by an affiliate of Cantor Fitzgerald, trading under the ticker symbol CEPT.

According to Bijie.com and ME, on October 28 (UTC+8), Shenzhen Second Residence Online Information Technology Co., Ltd., while promoting its digital custody business for properties like sea view apartments and resort hotels on a WeChat mini-program, was also actively recruiting real estate asset management (RWA) partners, claiming that "investing 3,000 yuan offers the chance to become a millionaire." Founder Fan Jia claimed that the core of their business is to absorb idle domestic real estate, upgrade it into high-value-added "digital assets," and then sell it in shares based on the annual usage of property rights and income rights. This involves "share-based" domestic operations and "tokenization" internationally. Once digital assets reach scale, corresponding tokens are issued overseas using these assets as underlying assets, attracting international investors to help domestic project owners monetize their assets. Yao Yang, a professor at the Dishui Lake Advanced School of Finance at Shanghai University of Finance and Economics, noted that currently, RWAs are either sparsely traded (as in the Hong Kong market) or are rife with scams. Relevant departments have warned companies against entering the market rashly.