Recently, I have been following an interesting project direction—applying real-world assets (RWA) in the new energy vehicle industry. A vehicle manufacturing company has launched a tokenization plan, with the core idea of converting $500 million worth of EV pre-orders into on-chain assets, allowing global participants to share in the industry’s growth benefits.

The logic of this plan is actually quite clear. Under traditional financing models, the relationship between users and companies is relatively straightforward—buying a car is just buying a car, with limited participation and profit-sharing. Through RWA tokenization, each token holder essentially becomes a co-builder of the ecosystem. As the company delivers more orders, the token’s value is theoretically expected to increase accordingly.

Looking at the data, there are some supporting points: over 10,000 confirmed pre-orders, endorsement from a Nasdaq-listed company, and a total financing of $3.53 billion. These are verifiable pieces of information, not just empty talk. They plan to tokenize this real pre-order asset via RWA, with an initial market cap set at $100 million.

What’s interesting is that this case reflects a new approach for RWA in the physical industry—how to create a closed loop between on-chain assets and real-world delivery. However, this also raises some questions worth pondering: How exactly is the token’s value linked to delivery volume? How to prevent pre-order risks from transferring to token holders? And how should such projects be positioned in terms of regulatory compliance?

From an investment perspective, the team’s expectation is to reach a market cap of hundreds of billions of dollars by 2027. The underlying assumption is that if the electric vehicle industry continues to grow and pre-orders keep converting into deliveries, the demand for tokens based on these real assets will rise. Essentially, it’s a bet on the future of the EV industry.

In any case, the combination of RWA and emerging industries is indeed a hot topic in current Web3 discussions. This case serves as a relatively concrete practical implementation and is worth ongoing observation.