Back to thesis
Phase 1 — Visual Identity
Starting Point

FRAME — Geometric logo prototype

The brief: a brand for an NFT fund called FRAME. Simple letterforms using the fewest possible points, fully geometric, resizable to any aspect ratio. White stroke on black.

Built an interactive prototype — click to cycle through 8 aspect ratios (16:9, 4:3, 1:1, 9:16, etc.). Each letter defined as polylines in a normalized unit cell. The whole word stretches and reflows between horizontal and vertical layouts.

Specifications F: 5 pts · R: 7 pts · A: 5 pts · M: 5 pts · E: 6 pts
Total: 28 points · Diagonal angles required
Phase 2 — The 90° Constraint
Constraint

What if every line segment was horizontal or vertical?

A question emerged: which words can be depicted using only 90-degree angles? No diagonals, no curves — pure grid geometry.

Letters that work with 90° only B C D E F G H I J L O P S T U
15 of 26 letters. The rest need diagonals.

This became a generative constraint — what meaningful words exist within this 15-letter alphabet?

Exploration

Art and culture words within the grid

The fund is in the NFT space, so the name needed to feel like art and culture, not finance. Hundreds of words were filtered through the 90° constraint.

OPUS ETUDE FUGUE SCULPT GOTHIC CUBIST FOLIO GILD TOILE DECO ETCH STUDIO EPOCH
CUBIST — an art movement literally about geometry, and every letter is grid-constructible.
Prototype

FOLIO — 20 points, zero diagonals

FOLIO emerged as the strongest candidate. It means portfolio (finance), a collection of prints (art), and a leaf of a manuscript (provenance). The repeated O creates rhythm, the narrow I gives vertical structure, the F anchors it.

Point count F: 5 · O: 5 · L: 3 · I: 2 · O: 5
Total: 20 points · Proportional letter widths · Grid overlay
Phase 3 — Finding the Name
Context Shift

It's for Raoul Pal

The fund is Raoul Pal's — founder of Real Vision, macro investor turned crypto-native, one of the most visible NFT collectors and advocates. The name needed to match his energy: bold, thesis-driven, intellectually grounded, credible to both LPs and the crypto-native crowd.

Direction 1

Left-field intellectual references

Names that encode a thesis but sound like they could be on a building. Insider references that reward the people who get them.

OVERTON TESSERA PENUMBRA SFUMATO MOIRÉ FRESNEL SUBSTRATE

OVERTON (the shifting window of cultural acceptance) was strong but too many funds already use it. SUBSTRATE was perfect conceptually — the layer everything grows on — but conflicts with Polkadot's blockchain framework.

Direction 2

Internet-native and technical

Words from the tech/internet world with double meanings in art and finance.

LATENT CACHE DAEMON ARTIFACT PARSE GLYPH SIGIL TOTEM

CACHE was the favourite — hidden value, stored, ready to be retrieved — but it's already taken. LATENT was the runner-up: latent space (where generative art lives), latent value (finance), latent meaning (culture).

Direction 3

Two-word names

Inspired by hivemind — compound names with conceptual weight.

DARK FOREST DEEP LORE LOST WAX NEGATIVE SPACE STRANGE ATTRACTOR PERMANENT COLLECTION EPOCH ONE
Detour

Permanent Collection — loved but flawed

The museum term for holdings that never get sold. It was the perfect positioning for a long-hold cultural fund. But it had a fatal constraint:

Can a fund called Permanent Collection ever sell anything?

The name would turn ironic at the first exit. Variations were explored — Private Collection, Living Collection, The Permanent — but the magic was in the original pairing, and the original pairing was a trap.

Detour

The Bowie thread

David Bowie invented Bowie Bonds in 1997 — the first tokenization of creative output. A perfect origin story for the fund's thesis. Bowie-adjacent names were explored.

LOW OUTSIDE BLACKSTAR SOUND AND VISION MAJOR TOM ODDITY LAZARUS

LOW was the power move — Bowie's most experimental album, and the word every fund wants to whisper. But the Bowie reference was stronger as part of the thesis narrative than as the name itself.

Detour

Chaos theory — Strange Attractor

A strange attractor is the hidden pattern that emerges from a chaotic system. The market looks random, but there's an underlying shape pulling value toward it. Raoul's literal job is finding the attractor in chaotic markets.

The Lorenz attractor — drawn from three simple equations, never repeating — would have been a stunning visual identity. But "strange" was too much to explain in a first meeting. The concept was right; the word was a barrier.

STRANGE ATTRACTOR DEEP ATTRACTOR ATTRACTOR STRANGE MATTER EDGE OF CHAOS PHASE SPACE
Detour

Types of frames

A return to the original FRAME concept — what if the name was a specific type of frame? Art frames, architectural frames, digital frames.

SHADOW BOX CASSETTA TONDO ARMATURE KEYFRAME FLOAT DIPTYCH

Rich territory but none cleared the bar of being immediately understood while encoding a thesis.

Phase 4 — Convergence
Decision

EPOCH ONE

Two words that had surfaced separately — epoch from the 90° grid exploration and one from the thesis framing — converged.

It does the most work with the least friction:

"We're in epoch one" is already how Raoul talks. It's a timestamp and a thesis. In machine learning, epoch one is the first pass through the training data — patterns forming, weights adjusting. In culture, it's the moment before consensus, when conviction is cheap and the permanent collection is still being assembled.

No selling constraint. No explaining. No conflicts. Three syllables. E1 as shorthand.

Epoch One is a thesis disguised as a fund, and a fund disguised as a collection.
Output

The thesis, written

With the name locked, the thesis wrote itself in nine sections — from the one-line position ("We are in epoch one of cultural assets moving on-chain") through the macro frame (Bowie Bonds as proof of concept) to the closing line.

Key lines that emerged from the process:

The crowd left. The culture stayed.
We are not waiting for liquidity. We are acquiring while its absence keeps prices irrational.
Bowie Bonds were a proof of concept. NFTs are the production deployment.
We are in the window.
Final output

Whitepaper site

The thesis was built as a long-scroll essay site — EB Garamond body text, Inter for section labels, dark background, gold-accent pullquotes, scroll-triggered fade-ins. Designed to read like a published essay, not a pitch deck.

Names considered
Full list

Every name explored in this process

FRAME FOLIO OPUS GILT CUBIST EPOCH ETUDE FUGUE SCULPT GOTHIC GILD DECO ETCH KILN COLOPHON OVERTON TESSERA SFUMATO MOIRÉ PENUMBRA RESIDUAL SUBSTRATE STRATA GESSO LATENT CACHE DAEMON ARTIFACT SIGIL TOTEM RUNE DARK FOREST DEEP LORE LOST WAX NEGATIVE SPACE PERMANENT COLLECTION PRIVATE COLLECTION THE PERMANENT LOW OUTSIDE BLACKSTAR SOUND AND VISION STRANGE ATTRACTOR ATTRACTOR CONVEX LONGTAIL INFERENCE SHADOW BOX CASSETTA TONDO LONG THESIS WORKING THESIS EPOCH ONE