Author: 0xJeff, Steak Studio; Translation: Jinse Finance xiaozou
Tokenization has always been a concept that fascinates me. It may seem simple, but whenever something appears in a tokenized form, the share of attention immediately shifts to it.
This article summarizes some of the tokenization trends we have seen so far, how they work, and what may happen next:
1. Tokenization of assets
The initial trend of tokenization.
Bitcoin created the first decentralized, secure, and transparent ledger system, paving the way for digital representation of assets.
Then, in 2015, Ethereum emerged, introducing smart contracts that made assets programmable—whether it's real estate, art, or DeFi.
The current FDV of ETH is $470 billion. This is the scale of tokenization's impact on assets.
2. Tokenization of art (NFTs)
The rise of NFTs has brought tokenization into the art world.
In 2017, projects like CryptoPunks and CryptoKitties sparked the NFT craze.
By 2021, with NFTs becoming the preferred way to represent digital art and collectibles, NFT trading volume reached $13 billion.
Many collectibles, like CryptoPunks, BAYC, Art Blocks, etc., required millions of dollars at their peak in 2021.
3. Tokenization of revenue
Another significant shift is revenue tokenization.
Pendle was the first to propose the idea of tokenizing future revenues in 2021.
It created a market where fixed and variable income could be traded, adding flexibility and liquidity to DeFi.
Pendle truly took off in 2023 with LSTs (Liquid Staking Tokens) and the points market in early 2024.
Currently, the FDV of the PENDLE token is $1.6 billion.
4. Tokenization of AI agents
Now we see the tokenization of AI agents.
Virtuals launched a platform where you can create AI agents and tokenize them, effectively guiding their development costs.
The narrative of AI agents begins in October 2024, and Virtuals creates a market for agent ownership.
Fast forward to the present: the FDV of the VIRTUAL token has reached $2.5 billion.
5. Trend discovery
In all these categories—assets, art, revenue, AI agents—the patterns are clear: pioneers in each category often experience rapid adoption and significant price activity.
So, the biggest question is: what is the next step for tokenization?
Here are some ideas I am observing:
6. Tokenization of data
Vana is exploring DataDAOs and Data Liquidity Pools (DLPs).
Users can contribute data to these data pools, retain ownership, and receive rewards based on the quality of their contributions.
Essentially, it transforms data into a liquid, tradable asset.
The VANA token will be issued on December 16 (listed on Binance). However, be cautious, as the exact FDV is still unclear, but the idea of tokenized data ownership could be a very grand idea.
7. Tokenization of attention
Kaito AI is dedicated to the tokenization of Web3 attention. They have demonstrated the ability to generate and capture more attention through their platform's mindshare dashboard and the recent Yap-to-Earn.
Their 'Yapper Leaderboard' incentivizes thought leaders to 'yap' more, earning 'Yap' points, which eventually leads to a KAITO token airdrop.
Essentially, Yap = Attention = KAITO Token.
This is an interesting game about how Web3 is redefining user engagement.
8. Tokenization of AI apps
This feels like a natural extension of the AI agent trend.
With tools like Replit and the rise of the agent ecosystem, we are one step closer to personalized software creation.
Tokenized AI apps can allow users to guide development and own a portion of the app's revenue.
Competitors in the field:
ALCHEMIST AI and Myshell are the main competitors. Both platforms enable developers to create revenue-generating AI applications, providing practical and scalable use cases.
Myshell goes a step further, allowing investors to directly invest in these applications and share in the future profits generated. This model not only supports development but also aligns the incentives between creators and investors.
9. Final thoughts
Tokenization trends always generate waves of new innovation and adoption. But what fascinates people about tokenization trends is not just the technology – it's how they bring people together and shift attention to new opportunities.
What is the next big trend in tokenization? I'm not sure, but these ideas are worth our attention.
