RWA (Real World Assets), such as precious metals, art, real estate, bonds, etc., participate in the on chain digital economy through DEFI and NFTs. However, the long-term lack of liquidity in NFTs hinders the further development of RWA. Nowadays, ERC404 brings NFT real-time liquidity, providing the possibility for rapid flow of RWA assets. Avatar, based on Pandora's innovative asset agreement, has become the first RWA asset issuance agreement based on ERC404 and the real-time liquidity infrastructure for the $1 billion RWA track.