Incubated by the studio · In formation
rare.fun
A consumer position on scarce digital objects, taken with the benefit of having operated the previous cycle’s version of the same idea and watched it reprice.
| Sector | Digital collectibles · consumer |
|---|---|
| Period | In formation |
| Held by | Gord Holdings |
| Supplies | — |
| Consumes | 02 Portable identity, 03 Redeemable value |
The relationship, stated exactly
Ideated inside the studio and in formation. No public surface, no announced structure, and no claims made here until there is something to verify.
The founding thesis
Why the company was started, and what would have shown the belief wrong. A description can be written after the outcome; a thesis cannot, which is the only reason this section is worth reading.
Scarcity is only interesting where it is enforceable, and consumer products are the fastest way to find out whether a scarcity mechanism is believed.
| Formed | 2025 — after the correction removed the speculative floor |
|---|---|
| Wedge | Consumer-first, with the enforceability visible rather than assumed. |
| Would kill it | Engagement tracks resale value exactly, which would mean the mechanism was never the draw. |
| Grade | M1 Pre-thesis — Status `in-formation` in portfolio.ts. Absent from every live register: no .deploy/config.json target, no directory fragment, no shipped/1 log. A written position, named here rather than dressed as a company. |
The record
Facts only. Anything the studio cannot evidence is simply absent from this table rather than softened into it.
| Status | In formation — no public surface, nothing to verify yet |
|---|---|
| Prior art in the group | NFT BAZL (2021–22), and the Archive entry on why the cycle ended |
What the studio performed
The eight acts, and which of them were carried on this company by the people who now run this studio.
| Act | On this company | |
|---|---|---|
| 01 | Ideation The position comes first | Performed |
| 02 | Incubation | — |
| 03 | Financing secured | — |
| 04 | Operating partners | — |
| 05 | Operations | — |
| 06 | Business development | — |
| 07 | Global corporate expansion | — |
| 08 | Exit | — |
The case
Labelled as ambition under the group’s one rule, because that is what it currently is.
The only honest thing to say at this stage is what the position is not. It is not a return to the 2021 structure, which the group ran and the Archive documents: a venue without an economy, standing that did not travel, and no work being done by anyone once the object had been sold.
When there is a surface, it will be linked here and this entry will carry a record instead of a paragraph.
Why it is evidence
A stated position, published at the stage the studio’s method requires: written and dated before the company exists, so the record can be checked against it later rather than reconstructed afterwards.
Elsewhere in the portfolio
| Company | Shelf | Held by | Supplies |
|---|---|---|---|
| NFT BAZL | Positions | GDA Capital · private equity position | 01 |
| Flashy | The operating stack | Gord Holdings · founded and capitalised by GDA Group | 02 03 04 |
| ClaimYour.Gold | The operating stack | Flashy Group | 02 03 |
| Flashy ID | The operating stack | Flashy Group | 02 |
| Flashy Academy | The operating stack | Flashy Group | 03 |
| Flashy Mind | The operating stack | Flashy Group · FlashyOS | 04 |
| BuildOS | Incubated by the studio | Gord Holdings | — |
| FinanceOS | Incubated by the studio | Gord Holdings | — |
| RitualOS | Positions | GDA Group · private equity | 02 |
| Metaverse Group | The record | GDA Group · co-founder, realised twice | 01 |
| BitMap Holdings | The record | GDA Group · innovation, acquired by Skrybit | 01 |
| AssetMesh | The operating stack | Gord Holdings · FlashyOS | 03 |
| Alchemist | Incubated by the studio | Gord Holdings · FlashyOS | 01 |
| Flashy Buzz | Incubated by the studio | Flashy Group | 03 |
| Flashy Ledger | The operating stack | Flashy Group · FlashyOS | 03 |
| Flashy Rails | The operating stack | Flashy Group · FlashyOS | 03 |
| Flashy Wallet | Incubated by the studio | Flashy Group | 04 |
| Bastion | Incubated by the studio | Gord Holdings · FlashyOS | 04 |
| agentfile | Incubated by the studio | Gord Holdings · FlashyOS | 02 |