$100M of creative IP on Ethereum and Stellar is a rounding error beside BUIDL/OUSG-style Treasury RWAs, but the risk surface is nastier: royalty data, license scope, takedowns, and infringement enforcement all live offchain. If Vobile can wire its rights-management stack into tokenized claims, IPFi gets a credible path beyond NFT-era royalty wrappers and vibes.

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