ConX, the global blockchain mainnet, announced on the 28th a circulating real-world asset (RWA) pilot model. Unlike traditional RWAs, which move existing assets such as real estate, gold, and bonds onto the blockchain via one-way securitization, circulating RWA starts by creating new real-world assets that traverse Web2 and Web3. Circulating RWA uses Web3 infrastructure to convert ideas proposed by the Web3 community into actual artworks or products, and tokens the right to profits from these assets. The core is to materialize intangible ideas into tangible assets on the blockchain.
ConX is piloting the model through the CONX Arena project. The first event leveraged the intellectual property ‘Nom’ from Com2uS Holdings for a global game competition, and it is now working on the Jo Jae-beom Arena with pixel artist Jo Jae-beom. The Jo Jae-beom Arena is a Web3-based collaborative art creation model where artists add inspiration to ideas gathered from the community and produce actual artworks. By tokenizing the revenue rights from these finished works on the blockchain, profits from the works are distributed transparently to contributors such as artists, idea providers, and the platform.
ConX’s settlement for the Jo Jae-beom Arena uses the ODL standard developed by ConX’s tech partner Com2uS Holdings, with final payouts in stablecoins such as USDC and USDT. A ConX Foundation official said this effort could significantly raise the utility of RWA beyond simple tokenization and serve as a precedent for linking finance and the culture sector. The Layer1 mainnet under ConX is supported by participants including Google Cloud, LayerZero, Animoca Brands, and aims to create an ecosystem where traditional financial institutions, the cultural industry, and technology companies securely bring real assets on-chain, with a robust stablecoin infrastructure.
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