Tokenized stocks

The same stock is tokenized by many companies at once. Eight issuers offer a tokenized NVIDIA. They are separate products with separate custodians and separate redemption mechanics, trading in separate markets.

Nobody publishes which one is safe to hold. rwa.xyz lists all of them and shows a price for none.

Price where none exists

SpaceX is private. There is no NYSE quote, no underlying to arbitrage against, and no public price between funding rounds.

Four issuers tokenize it anyway, and their markets agree:

Four independent markets, no shared oracle, no listed reference. This is the closest thing to a continuously observable price for the company.

Which version should you hold?

Issuers to avoid

Two independent failures at once: no meaningful volume and a price adrift from peers. An issuer can wash trade its own token, but it cannot make competitors agree with a wrong price, so failing both is a strong signal.

Where these actually trade

A token existing on a chain tells you nothing about whether it trades there. A dead pool is worse than uninteresting: its stale price still gets quoted. One such pool priced NVIDIA at $1,180 against a real $208, a 467% premium on zero volume.

They exist everywhere and trade almost nowhere.

Ghost listings

Deployed, quotable, and with no live venue at all:

How this is judged

A venue counts as live only if it moved at least $100 in 24 hours and holds at least $1,000 of liquidity. Both thresholds are configuration, recorded on every row.

Participant counts are used rather than trade counts. One pool showed 657 transactions from 8 addresses, which counting trades would have called a busy market.

See methodology for the full set of assumptions.