BULLETIN #2
The NFT Thesis, Bulletin #2, November 4, 2021
The ocean has no ledger. A reef cannot hold title to itself, a kelp forest cannot prove its own provenance, and no fish has ever been issued a certificate of authenticity. For the first time in history, non-fungible tokens make each of these things possible.
Baculum Capital Management believes that every reef deserves a token.
POSITION
The firm has facilitated three collections in support of ocean conservation:
- Abyssal Genesis. 333 editions. Generative bathymetry, minted on-chain.
- Kelp Punks. 1,000 editions. Each punk is assigned a kelp forest.
- Chain of Reefs. An ERC-1155 collection with on-chain royalties, payable to the oceans in perpetuity.
The partners have aligned their interests with those of collectors. One partner has personally committed 512 ether to the asset class.
OUTLOOK
Floors are a function of conviction. We are convicted. We expect the floor to hold.
─── END OF BULLETIN #2 ───