Investing in the next $100 Billion asset class of digital art and culture on blockchains Founded by @jmpailhon (CIO) and @salikhovart (Head of Research)
Joined January 2023
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We're here to help you navigate the next $1 trillion asset class and keep you informed on most significant events in digital art.
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Our monthly newsletter about Digital Art Market on Blockchains (Ethereum) for September 2026 is out!
1/ 📈 Up in ETH: Fidenza +40%, Terraforms +32%, Chromie Squiggle +14%, CryptoPunks +4%.
2/ 📉 Down: Bored Ape -17%, Pudgy Penguins -19%, Azuki -22%, Doodles -26%.
3/ CryptoPunks now make up 42.4% of the whole NFT market. Trading is still about $2M a day. Not a comeback. A market choosing what it will keep.
4/ Prices follow ETH. Canonisation follows time.
👉 Full read: grailcap.substack.com/p/digi…
Our latest monthly newsletter is out!
📌 In this issue
📈 August looked like a recovery. The NFT market cap rose 36% to $2.1B and the blue-chip screen went green.
💲It was a currency illusion. Ethereum rallied 31% on a short squeeze and Treasury liquidity, and priced in ETH, the unit these works actually trade in, floors fell across the board.
🟰 Volume stayed dead at about $3.4M a day.
📢 Meanwhile the narrative ran ahead of the tape, the loudest collectors kept insisting they are collecting and not trading, and CryptoPunks quietly completed its fourth year as museum-grade heritage.
grailcap.substack.com/p/digi…
To celebrate today's solar eclipse: one of the amazing Gazers by @MattKaneArtist in Grail Capital collection
Grail Capital retweeted
The digital-art NFT market hit a four-year low, and yet the Coinbase CEO is wearing a CryptoPunk and the Whitney is staging on-chain art.
Inside the collapse, the money concentrates into the canons.
📌 In the Digital Art Market on Blockchains (Ethereum) - July 2026 newsletter
July closed with the digital-art NFT market at $1.54B, a four-year low, roughly 91% below its 2022 peak, on volume of about $2M a day, even as a parallel NFT economy in tokenized Pokemon cards boomed past $600M a month.
And yet the Coinbase CEO made a CryptoPunk his face, the Whitney announced on-chain generative art on its stage, and inside the wreckage the art money is concentrating into a handful of canonical names.
The market has never been smaller. Its cultural standing has rarely been higher.
open.substack.com/pub/grailc…
Grail Capital Monthly, issue Q2 2026 is out.
The NFT art market is contracting and consolidating.
@DatalandMuseum opens the first museum of AI art. Three more marketplaces step off.
Link: open.substack.com/pub/grailc…
Grail Capital retweeted
“The future of corporate treasuries will not only be about holding Bitcoin.”
“It will be about holding stories, aesthetics, and values that align with the digital era.”
“At Grail Capital, we are building the bridge between finance and culture, helping treasuries evolve from static reserves into dynamic, meaningful portfolios.
Culture is the new collateral.”
“Meaning is the new margin of safety.
The corporations that understand this will not just survive the digital transition - they will shape it.”
grailcap.substack.com/p/from…
Grail Capital retweeted
GM
Congratulations to @cryptopunks, @larvalabs and all those involved in this amazing inclusion of 8 CryptoPunks in the permanent collection of @MuseumModernArt in New York
more info in the second tweet ⤵️
Congratulations to @cryptopunks for the @MuseumModernArt permanent collection inclusion! 👏
Grail Capital has proudly collected CryptoPunks since inception (2023) and we will continue to do so.
Congratulations also to all those involved in this amazing deal including generous donators. 🙏
CryptoPunks, welcome to the @MuseumModernArt collection!
Punk 4018, Punk 2786, Punk 5616, Punk 5160, Punk 3407, Punk 7178, Punk 74, and Punk 7899 have found a permanent home at MoMA, where they’ll be preserved and cared for as part of the museum’s history.
The collective generosity behind this gift highlights the strength and spirit of the Punk’s community whom has carried the project forward.
This historic donation was made possible by @ArtOnBlockchain and Mara Calderon, @CozomoMedici, @judithESSS, @NTmoney, @kukulabanze, and @Rhyd0n. @larvalabs also contributed Punks from their personal collection as part of their long-term commitment to the work.
We’re proud to see that shared stewardship reflected at MoMA.
With thanks to @1OF1_art for helping shepherd this acquisition forward.
moma.org/artists/140561-larv…
NFT Brief for Q3 2025 is out!
Ethereum +67% in Q3
NFT speculation fades
Generative art leads
Our @GrailCap October Brief unpacks the structural rebound:
🧬 Top sales (Autoglyphs, Fidenza, Beeple)
🏛 Institutional adoption
⚖️ Regulatory clarity
Read it → open.substack.com/pub/grailc…
Grail Capital retweeted
GN
"NFTs Today = Crypto in 2015" in terms of nb users and adoption cycle
In @Schillerverse’s latest podcast, we explore how rare digital assets could fuel the next crypto boom. Could this be the wake-up call for the NFT market?
📻 rawsegmints.podbean.com/e/ep…
I hope you enjoy listening as much as I enjoyed recording it.
Thanks @MattBartlettVE and @SegMintIO for the opportunity 🙏
