5 billion is just the beginning for gold, but the tokenization of energy and computing power is the real vast ocean—provided someone can bring pipelines and mining rigs onto the chain.

CoinWorld news reports that a16z, in a post, said that the current tokenized commodities market is almost entirely made up of gold. It cited RWA xyz data indicating that, as of May 7, 2026, the tokenized commodities gold market size was about $5 billion, far higher than categories such as silver and other commodities. a16z believes that gold’s standardized characteristics and its compatibility with digital assets make it the most successful application in the RWA sector, while tokenized oil, energy, computing power, and other commodities are still in the early stages of development and their market share is far below that of gold.