The Reference · Market segment
NFTs & Digital Property.
The definition
Non-fungible tokens are unique digital instruments carrying title to a specific asset — art, collectibles, identity, credentials, or rights. Past the speculative cycle, the durable institutional use is provenance: a transferable record of authenticity and ownership that survives platforms.
The institutional read
The collectible mania obscured the useful primitive. Where NFTs persist institutionally is in credentialing, ticketing, brand programmes, and the title layer of tokenized physical assets — applications where uniqueness is the point rather than the pitch.
The firm's record spans the cycle's serious end: exhibition and marketplace infrastructure for digital art, and identity/credentialing systems where the token is a certificate, not a lottery ticket.
GDA in this segment
Portfolio positions include NFT BAZL (exhibition and marketplace platform for digital art) and MyStandard (digital identity and credentialing).
How the firm engages