Digital property
Title rather than tokens: what a digital thing confers on the person who holds it, and who keeps the record of that.
The last cycle valued the asset and almost nobody valued the assay. When the asset repriced, what was left standing was whoever could still say with dates what had happened — and this group could, because it ran the room in which the category was argued into existence and kept the record afterwards rather than deleting it.
The position is that a token is a title, and a title is worth what its registrar is worth. That is a boring sentence and it is the whole vertical: provenance, tenure, transfer, and the dated record of what each of those actually delivered. It is deliberately not a market view. A group that publishes the write-downs is a group that can be asked what happens next.
The properties
- NFT Capital Digital property, assayed: what a token actually confers, what the category did, and the dated record behind both. Building
The gate
Has the record and the convening, and neither a balance sheet nor originating deal flow of its own. So it holds no arm it has earned: nft.capital carries the convening function in the register whatever its name says, and its own mandate page states the test it has not passed.
A vertical earns its own Ventures arm when it has deal flow of its own, and a Capital arm when it has a balance sheet to allocate. Neither is granted at formation, and both are published on the roadmap so a partner can check whether the group applied its own rule.