Theo Network launches today, with an estimated FDV ranging from $300 million to $700 million. At first glance, the numbers seem pretty intimidating, right? But if you think about it carefully, it actually makes sense within the logic of their product.

The entire RWA sector is currently playing with the concept of tokenization, but there are very few projects that have actually developed real-world application scenarios. With their thBILL product, Theo is one of the few that can actually deliver something tangible. Whether the valuation is too high depends on whether they can solidify their use cases going forward.