Tokenized Commodities

The tokenized commodities market has grown steadily, now reaching a market capitalization of $1.27B as of April 2025. The vertical boasts over 8,200 monthly active addresses and 65,970 unique holders.

The dominant assets are tokenized precious metals—particularly gold—represented by tokens such as PAXG ($412.7M) and XAUT ($393.4M). Additionally, initiatives to tokenize uranium (U308), wine (dVIN), and spirits (Cask) have all seen measured levels of success in this early stage of commodity tokenization.

The tokenized commodity vertical is currently dominated by Paxos Gold and Tether Gold, with over 95% combined market share. Ethereum remains the primary issuance network, hosting over $1.3B in commodity value.

Supply Chain and Custody Verification

While tokenized energy resources and agricultural products remain primarily underdeveloped, pioneers like Agridex are working in this field. However, in 2025, the groundwork for on-chain natural resource markets will be actively laid. Oracle infrastructure will be critical in verifying energy delivery, metering data, and provenance for commodities like oil, natural gas, and grain shipments.

A defining challenge for commodity tokenization is supply chain and custody verification. Tokens representing physical goods must correspond to real-world assets stored in specific vaults, warehouses, or logistics hubs – wherever they find themselves within their supply chain. Oracles enable tamper-proof asset movement tracking, custody chain, and audit records.

Quality and quantity attestation—including purity for metals or grade for grains—must be relayed on-chain from trusted verification agents, ensuring each token maintains equivalence with its underlying commodity.

Oracle Data Requirements for Commodity Markets

Robust oracle systems must deliver three categories of data to support commodity markets:

1. Price feeds sourced from spot exchanges and OTC data providers

2. Physical delivery verification, confirming shipment receipts, vaulting updates, or custodial transfers

3. Storage validation, including location, capacity, and insurance status of the asset.

In collaboration with RWA World, programmable oracles like SEDA can ingest data from logistics APIs, vault audits, and IoT sensors, supporting tokens to continuously correlate with the physical commodity.

Future Innovation Opportunities

Future innovation opportunities include tokenizing energy certificates (e.g., crude barrels or LNG units), integrating carbon intensity metadata, and oracle-supported derivatives like tokenized commodity forwards.

Decentralized commodity markets (built on oracle-verified physical assets) can reshape global trade by compressing settlement time, eliminating intermediaries, and enabling fractional access to previously inaccessible markets.

RWA Data Feeds Solution

RWADataFeeds.com provides share pricing data for over 100 of commodities and metals, both spot and futures price. The data is sourced, and aggregated from over 5 off-chain public equity pricing data providers.

Share pricing data is updated in the intervals between 1 min and 15 mins, depending on the asset itself.