[a16z: The Tokenized Commodity Market is Almost Entirely Dominated by Gold, Valued at $5 Billion] BlockBeats News, May 23 — a16z crypto published an article stating that the current tokenized commodity market is almost entirely dominated by gold. Citing data from rwa.xyz, it noted that as of May 7, 2026, the on-chain tokenized gold market has reached approximately $5 billion, accounting for the vast majority of market share. In comparison, the tokenized silver market is only about $28.1 million, tokenized gold ETFs (iShares Gold Trust) are around $14.1 million, and other commodity categories combined total approximately $29.5 million. a16z pointed out that gold's characteristics—such as global circulation, standardization, and long-term reliance on paper-based certificate trading—make it naturally suited for tokenization. Products like Tether Gold (XAUt) and Pax Gold (PAXG) essentially map the ownership of gold stored in vaults to on-chain wallets. It also mentioned that aside from gold, tokenized assets such as oil, agricultural products, energy, and computing power are still in very early stages, with relatively limited market share. [Original Link]