Recently, there has been an interesting phenomenon in the Web3 investment circle—senior VCs show vastly different levels of favor towards RWA projects. One industry voice worth noting is a VC who has screened hundreds of projects, saying that the core logic behind supporting certain RWA projects ultimately comes down to the founding team.

It sounds like old advice, but the underlying logic is actually more complex. RWA (Real-World Asset on-chain), a trillion-dollar track, involves many market participants, with projects of varying quality. On the surface, everyone claims to be reliable, resourceful, and technically capable. But the VCs repeatedly emphasize that the key considerations for long-term success are not these.

Why? Because RWA sits at the intersection of traditional finance, blockchain technology, and regulatory compliance. It’s not a simple race of coding ability or fundraising scale. You need people who have influence in all three areas—those who understand the operational logic of traditional finance, grasp the technical boundaries of blockchain, and have sharp judgment of regulatory trends. Such a team composition isn’t something just any team can assemble.

Therefore, the VC’s screening criteria are quite clear: the background, capability, and credibility of the founders and core team are the critical variables that determine how far the project can go. Reliability ultimately depends on the people.