A physical good — art, a rare object, real estate — is placed into the custody of a DAO. The DAO issues a low-supply fungible token representing ownership of that asset, deployed onto a bonding curve.
Low supply means the curve is steep — small changes in demand produce large price movements. The token trades in realtime on the AMM. Token holders collectively govern the DAO: decisions about the physical asset (storage, insurance, exhibition, sale) are made through onchain governance.