Digital Asset Valuation
Tokens, protocols, and Web3 companies require valuation approaches that account for volatility, tokenomics, and regulatory complexity. Not hand-waving.
Crypto/Web3 valuations
Assets valued
Regulatory defensible
Why digital assets are different
Crypto and Web3 companies operate in a fundamentally different paradigm. Traditional valuation methods need significant adaptation.
Extreme Volatility
Token prices can move 20%+ in a day. Point-in-time valuations require careful methodology and documentation of market conditions.
Regulatory Uncertainty
Classification as security, commodity, or currency affects valuation approach. We document regulatory assumptions clearly.
Treasury Complexity
Multi-token treasuries, staking yields, and vesting schedules create valuation complexity that traditional methods miss.
Protocol Economics
Token economics, governance rights, and protocol revenue require specialized frameworks beyond DCF.
A framework for crypto-native valuation
We combine on-chain analysis with traditional valuation rigor to produce defensible conclusions.
Token & Treasury Analysis
We analyze token holdings, vesting schedules, and treasury management to establish accurate asset positions.
- Multi-wallet treasury reconciliation
- Vesting schedule modeling
- Liquidity-adjusted valuations
- Staking and yield positions
Protocol Revenue Assessment
For protocols generating fees, we assess revenue quality, sustainability, and growth trajectory.
- On-chain revenue verification
- Fee structure analysis
- User and TVL trends
- Competitive positioning
Token Economics Review
We evaluate tokenomics, supply dynamics, and governance to understand value accrual mechanisms.
- Supply schedule and inflation
- Token utility and demand drivers
- Governance value assessment
- Burn and buyback mechanisms
Regulatory Framework
We document regulatory assumptions and provide scenario analysis for different classification outcomes.
- Security vs. commodity analysis
- Jurisdiction-specific considerations
- Compliance cost modeling
- Risk-adjusted scenarios
When you need a crypto-focused valuation
Token Fundraising
Pre-launch and post-launch token valuation for investment rounds
M&A Transactions
Full enterprise valuation including protocol and treasury assets
409A for Web3 Companies
Defensible strike prices that account for token compensation
Treasury Management
Fair market value for treasury reporting and decision-making
Tax & Audit Support
Point-in-time valuations for tax reporting and financial audits
Litigation Support
Expert valuation for disputes, bankruptcy, and regulatory matters
A note on regulatory defensibility
Digital asset valuations face heightened regulatory scrutiny. Every report we deliver includes clear documentation of classification assumptions, methodology rationale, and market condition disclosures. Our work is designed to withstand questions from auditors, tax authorities, and legal counsel.
What you get
A complete valuation package built for the crypto ecosystem.
Building in Web3?
Let's discuss how to value your protocol, treasury, or token in a way that holds up to scrutiny.