RWA Surpasses DeFi as the Leading Sector Among Web3 Founders in 2026

A newly released report from Proof of Talk reveals a significant shift in the Web3 landscape: real-world assets (RWA) and tokenization have now eclipsed decentralized finance (DeFi) as the dominant focus area for Web3 startup founders heading into 2026.

The report, titled "The State of Web3 Capital 2026," is based on data collected from over 200 startup applications submitted to the Proof of Pitch 2026 program, supplemented by a survey conducted across 13 active Web3 venture capital funds. The combined findings paint a clear picture of where both builder and investor interest is gravitating.

RWA and tokenization claimed the top spot among founders, with 29% of applicants identifying it as their primary focus. DeFi came in second at 23%, followed by decentralized AI at 11%. The report characterizes the surge in tokenized assets as the most definitive trend in the entire dataset.

This represents a notable reversal from earlier crypto cycles, when DeFi consistently dominated founder attention. Today's builders are increasingly focused on bringing traditional financial instruments — including credit markets, payment systems, and financial assets — onto blockchain infrastructure.

The investor side of the equation tells a consistent story. Among the 13 venture funds surveyed, 12 — or 92% — selected RWA and tokenization as a key investment sector. DeFi and stablecoins each followed at 77%. While the investor sample size is relatively modest, the directional signal is hard to ignore.

"Tokenization is no longer theoretical. Stablecoins proved it at a record $322 billion in circulation, and RWAs followed," said Joe Bruzzesi, General Partner at Raptor Digital.

Beyond sector preferences, the report highlights a structural evolution in how Web3 startups are raising capital. Token-only financing models are rapidly losing ground — only 5% of applicants are pursuing token-exclusive fundraising, while 83% now seek some form of equity exposure. Investors reflect a similar mindset: nearly half prefer a hybrid equity-and-token structure, and just 9% are open to token-only deals.

This trend aligns with broader market observations. Public token sales in the crypto space have been tracking toward their weakest quarterly performance in five years, suggesting that the market is maturing beyond speculative token launches.

The maturity of the current Web3 cohort is also evident in revenue metrics. Approximately 44% of the 200-plus applicants already report generating revenue, and 7% have achieved profitability — a remarkable indicator for an industry often associated with pre-revenue ventures. The majority of startups, around 89%, are still at the pre-seed or seed stage of funding.

Taken together, the report's findings suggest that the gap between what founders are building and what investors are willing to fund is narrowing considerably. With RWA and tokenization at the center of both camps, 2026 may mark the year that blockchain-based asset infrastructure transitions from niche experimentation to a core pillar of the global financial ecosystem.