IRL assets are constantly being brought on blockchain rails. Right from real estate to money market investment funds and assets like gold and silver, users have already started pouring in their investments on-chain.

Life insurance is one of the latest products that has veered into the blockchain world. Infineo, a company that focuses on tokenized life insurance, recently unveiled that it has transferred the "first-ever" tokenized life insurance policy via the distributed ledger technology on Provenance.

To date, Infineo has minted $9.4 million worth of life insurance policies on the aforementioned blockchain’s mainnet.

Commenting on the latest development, Cole Snell, Infineo’s Founder and CEO said,

“The digitization of life insurance policies not only unlocks global accessibility to life insurance but also delivers efficiencies and cost savings for industry stakeholders at every point along the value chain.”

According to details on Provenance’s official site, around $13 million worth of funds are locked on the blockchain.

Private credit and tokenized treasuries are two of the most sought-after RWA picks by users. In fact, the bear market was a blessing in disguise for this sector. Tokenized US treasuries' market cap rose 782% last year, from $104.0 million to $917 million.

Several analysts believe that this is just square one, and the RWA industry is set to branch out even further with time. According to 21.co’s forecast, the market for tokenized assets has the potential to reach ~$10 trillion in a bullish scenario and ~$3.5 trillion in a bearish scenario. The Boston Consulting Group, on the other hand, expects this industry to reach a valuation of $16 trillion by 2030.

Like life insurance policies, several other unorthodox assets can be expected to be brought on-chain and tokenized going forward.