"Most tokenization discussions stop at the token. In reality, the token is often the simplest component of the entire system." There is a moment that happens in almost every tokenization project. A developer deploys an ERC-721, writes a clean transfer function, and feels like the hard part is done. The token exists. Ownership is recorded on-chain. The asset has been " tokenized ." What Most Developers Think Tokenization Is Ask a blockchain developer to describe tokenization, and you'll typically