The market for tokenized real-world assets has reached a new milestone, with a market capitalization exceeding $24 billion as of mid-2025. This growth has been driven primarily by demand in private credit, which accounts for 58% of the market, and tokenized U.S. Treasuries, representing 34%. Institutional adoption is accelerating in this sector. Dubai has emerged as a leading hub for tokenized real estate, recording $399 million in tokenized property sales in May 2025, which constituted 17.4% of all real estate transactions in the city. This surge contributes to Dubai's overall real estate sales reaching a record $18 billion amid a broader push towards tokenization. Additionally, initiatives such as the partnership between Avalanche (AVAX) and New Jersey aim to tokenize $240 billion in property deeds, while MetaWealth is advancing institutional involvement with a $13 billion fund manager. Dubai is targeting $16 billion in tokenized real estate, underscoring its strategic focus on this market segment.