Dune to Present Unreleased RWA Report at Singapore Summit
On-chain analytics platform Dune's analysts will attend the TOKEN2049 in Singapore in October, bringing along an unreleased latest report on real-world assets (RWA) to showcase data points reflecting industry changes over recent months, while offering a private preview. The report's text and charts have not yet been made public.
TOKEN2049 Singapore is scheduled to take place from October 7 to 8 at Marina Bay Sands, covering all five levels of the venue, with expectations of over 25,000 attendees, 7,000 companies, 160 countries, more than 300 speakers, over 500 exhibitors, and more than 1,000 side events. The Dubai event has been moved to April 2027, leaving Singapore as the only main event for this year. Confirmed speakers include Shayne Coplan from Polymarket, Jeff Yan from Hyperliquid, Adena Friedman from Nasdaq, Jenny Johnson from Franklin Templeton, Eric Trump from the Trump Organization, Raoul Pal from Real Vision, and Tom Lee from Fundstrat; institutional participants include BlackRock, JPMorgan, Morgan Stanley, NYSE, and CME. Early bird tickets were previously priced at $399. The After2049 closing party will be held at Sands SkyPark on October 9. Concurrently, there will be an RWA Summit at Marina One on October 9, expecting over 1,200 attendees.
Dune has developed a product catalog for RWA, covering tokenized government bonds and money market funds, stocks, commodities, private credit, real estate, and synthetic perpetuals on Hyperliquid; it has updated its data from hourly to daily, covering 21 chains, including Ethereum, Solana, and Robinhood Chain. Its composability article previously stated that tokenized RWA is approximately $27 billion, with about $2.7 billion entering decentralized lending, and stablecoin supply exceeding approximately $330 billion. Centrifuge's outlook indicates that 86% of operators care more about distributing existing products rather than new ones.
External trackers provide a larger overview. Token Terminal's snapshot on September 12 showed that on-chain tokenized assets are approximately $346.1 billion across 47 categories, with stablecoins around $298.5 billion accounting for 86.2%; non-stablecoin RWA is about $47.6 billion, including government bonds around $15 billion, yield strategies around $10.5 billion, credit funds around $6.4 billion, gold around $5.1 billion, and tokenized stocks around $2.4 billion. RWA.xyz reported distributed assets of approximately $38.8 billion on the same day, representing a value of about $362 billion, with around 4.03 million holding addresses and stablecoins around $304.8 billion. On-chain distribution shows Ethereum leading with about $17.3 billion, followed by BNB, Solana, and Stellar. In the first half of the year, tokenized RWA rose from about $22 billion to around $34 billion by mid-year; Nasdaq was approved in March to support the parallel trading of tokenized shares and traditional shares, with custodial trust company platforms aiming for production in October.
The market mechanism is the exhibition distributing data products. Buyers want to obtain unpublished forms from funds and issuers at Sands; sellers are Dune, using the summit to convert dashboards into face-to-face previews. Funds flow into the venue from ticket sales and sponsorships, then back to query interfaces through institutional subscriptions. Beneficiaries are data vendors who can define RWA metrics in the October window; those under pressure are still competing for the same batch of CIOs with static PDFs. The event-driven aspect is the itinerary post, not the report release.
The unpublished report itself contains no numbers. The summit turns "what has changed in recent months" into a statement that must be seen in person.
Source: Public Information
ABAB AI Insight
Dune has structured analysts' schedules to align with issuance rhythms. With the cancellation of the Dubai event, TOKEN2049 becomes the only main venue, and the list of institutions expands from exchanges to include Nasdaq and Franklin Templeton, while RWA has transitioned from a sub-forum to a separately ticketed parallel summit. Data companies are not releasing reports on the main stage but are pre-selling forms in private messages, indicating that buyers have shifted from retail dashboard users to institutions needing to align metrics before the event.
The capital pathway is through exhibitions and subscriptions. Dune's competitive advantage lies in its classification and holding attribution across 21 chains, with the report narrating existing government bonds, credit, and gold into a "recent months" storyline. Both Token Terminal and RWA.xyz have scaled their figures to the $300 billion level, but stablecoins account for over 80%, with true non-stablecoins remaining in the $40-50 billion range. Whoever first provides a breakdown of "what has changed" in October will offer footnotes for the subsequent quarter's roadshow.
Analogies can be drawn to Chainalysis crime reports at consensus conferences and previews by rating agencies at bond meetings. The industry phase is shifting from expanding dashboard users to controlling classification rights: whether government bonds, gold, tokenized stocks, and synthetic perpetuals count as the same RWA will determine how management scales its narrative. The timelines of DTCC and Nasdaq's infrastructure overlap with the summit, prompting data vendors to rush to define before production.
The structural change is a shift in pricing power. The mechanism is that the "official scale" of on-chain assets does not come from the issuers but from whose queries are referenced in roadshows. The venue turns unpublished reports into scarce items, and private message previews retract research from public dashboards into networks. Stablecoins still represent volume, while government bonds and credit shape the narrative; if the report merely repeats the total of $346 billion, it lacks incremental value.
ABAB News · Cognitive Laws
Unpublished forms are more valuable than live dashboards.
When only one main venue remains, data will follow ticket sales.
Stablecoins support volume, while government bonds support narrative.