2026/01/21 Wednesday

NATS | Detailed Valuation Derivation Civilization Bitcoin 2.0 & Civilization RWA 2.0 Coin × Equity Integration (NASDAQ Context) 2030 / 2035 Strategic Price Range Methodology , USD 6,000 – 12,000 / NATS及 USD 30,000 – 50,000+ / NATS

GCWPA 2026/01/19  Frank Chen   中文 內容

NATS | Detailed Valuation Derivation

Civilization Bitcoin 2.0 & Civilization RWA 2.0

Coin × Equity Integration (NASDAQ Context)

2030 / 2035 Strategic Price Range Methodology

1. Valuation Philosophy: Where the Price Comes From

The projected 2030 and 2035 price ranges for NATS are not derived from token trading metrics, technical indicators, or speculative crypto cycles.

Instead, the valuation is derived through a top-down capital-market approach, consistent with how new asset categories are priced on NASDAQ:

Asset Category Definition
→ Reasonable Total Market Capitalization
→ Effective Circulating Supply
→ Implied Per-Unit Value

This approach aligns with institutional valuation practices used for:

  • Reserve-like assets

  • Category-defining public companies

  • Non-traditional asset classes entering public markets

2. Step One: Asset Category Positioning (2030 / 2035)

2030 Asset Category Positioning

By 2030, assuming successful Coin × Equity integration and NASDAQ listing, NATS is no longer classified as:

  • A cryptocurrency project

  • A blockchain infrastructure company

Instead, it is positioned as:

A Civilization-Grade Digital Reserve Asset
with Public-Market Anchoring

Key assumptions for 2030:

  • Civilization-based RWA becomes a recognized investment theme

  • Cultural, heritage, and sovereign-grade assets are partially securitized

  • NATS is among the first liquid, listed examples in this category

2035 Asset Category Evolution

By 2035, under further institutional adoption:

  • Civilization assets are included in long-duration portfolios

  • RWA 2.0 expands beyond real estate and bonds into civilizational assets

  • At least one sovereign or supranational entity acknowledges civilization-grade digital reserves

NATS’ positioning evolves into:

A Civilization-Grade Reserve Asset
Anchored by a NASDAQ-Listed Public Entity

This represents a category upgrade, not merely price appreciation.

3. Step Two: Deriving a Reasonable Total Market Capitalization

(A) 2030 Total Market Capitalization Range

The valuation benchmark is not individual crypto tokens, but asset-class comparables, including:

  • Bitcoin (as a reserve asset, without civilizational backing)

  • The global art & cultural asset market (≈15% CAGR)

  • Sovereign cultural funds and national heritage programs

Using conservative capital-market assumptions:

  • Civilization assets remain a minor but legitimate allocation class

  • NATS is a first-mover, publicly anchored reference asset

A reasonable, externally defensible market-cap range for 2030 is:

USD 300 billion – 600 billion

(An aggressive upside case may reach USD 1.2 trillion, but this is not used for public-facing guidance.)

(B) 2035 Total Market Capitalization Range

By 2035, if civilization-grade assets achieve institutional legitimacy:

  • They function as long-duration reserve assets

  • They partially overlap with the role of gold and Bitcoin

  • Public markets recognize a distinct civilization-asset category

Under conservative institutional adoption assumptions:

2035 reasonable total market capitalization range:
USD 1.5 trillion – 3.0 trillion

(Extreme success scenarios may exceed this range internally, but are not required for the base thesis.)

4. Step Three: Determining Effective Circulating Supply

Institutional analysts do not value assets using nominal total supply.
They use effective circulating supply.

For NATS:

  • Total supply: 100 million (fixed, non-inflationary)

  • Long-term strategic reserves & lockups: ~50%

  • Civilization-reserve characteristics imply persistent illiquidity

Therefore, the valuation-relevant effective supply is:

Approximately 50 million NATS

This assumption is conservative and consistent with reserve-asset behavior.

5. Step Four: Implied Per-Unit Valuation

2030 Price Range Derivation

Assumption Value
Total Market Cap USD 300B – 600B
Effective Supply 50 million

Implied Value per NATS:

  • 300B ÷ 50M ≈ USD 6,000

  • 600B ÷ 50M ≈ USD 12,000

2030 External Strategic Range:

USD 6,000 – 12,000 per NATS

2035 Price Range Derivation

Assumption Value
Total Market Cap USD 1.5T – 3.0T
Effective Supply 50 million

Implied Value per NATS:

  • 1.5T ÷ 50M ≈ USD 30,000

  • 3.0T ÷ 50M ≈ USD 60,000

2035 External Strategic Range:

USD 30,000 – 50,000+ per NATS

(USD 60,000+ represents a high-success internal scenario.)

6. Why These Ranges Are Capital-Market Reasonable

These valuation ranges are considered reasonable within NASDAQ frameworks because:

  1. They are derived from asset-class positioning, not token speculation

  2. They rely on explicit assumptions (market cap & effective supply)

  3. They are expressed as ranges, not single-point forecasts

  4. They align with how new categories are historically priced in public markets

7. Analyst-Ready One-Sentence Explanation

The 2030 and 2035 valuation ranges for NATS are derived by positioning it as a civilization-grade reserve asset, estimating a reasonable total market capitalization for that category, and dividing by effective circulating supply — not by projecting token prices.

8. Summary Table (Investor Deck Ready)

Year Strategic Price Range (USD / NATS) Category Position
2025 (IEO) ≈ 2 Civilization asset entry point
2030 6,000 – 12,000 Civilization RWA mainstreaming
2035 30,000 – 50,000+ Civilization-grade reserve asset

9. Disclosure Language (Recommended for NASDAQ Materials)