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About Grail
Grail puts physical collectibles onchain: trading cards and jerseys sit in insured vaults while tradable gTokens are issued against them, and holders can sell on secondary markets or request physical redemption. It targets a collectibles market with poor liquidity that depends on auction houses and in-person authentication and cannot price around the clock.
Each gToken maps one-to-one to an item in the vault, and a buyback channel sets a price floor. Since launching in early May it has passed 9,000 users, and on June 21 it disclosed incubation by 1confirmation. On October 6 leaked database credentials allowed privilege escalation, letting an attacker mint illegitimate gTokens and drain about $40,000 through the buyback; the system has since moved to multisig. Physical backing does not imply onchain security — custody and permission management are where such projects fail.
Grail.xyz launched in early May 2026 as a platform for tokenizing physical collectibles, incubated by venture capital firm 1confirmation.
The platform established its core mechanism of backing tokens (gtokens) with real-world assets such as PSA 10 graded cards and game-worn jerseys, stored in fully insured vaults operated with Alt.xyz and PSA. This created a redemption model where 10,000 gtokens can be burned to claim the physical item.
Within its first month, Grail.xyz surpassed 9,000 users, $1.15 million in cumulative trading volume, and $165,000 in revenue — early metrics that validated demand for fractionalized real-world collectibles onchain.
Grail launched in early May 2026. By mid-2026 it had 9,000+ users, over $1.15M in volume and $165K+ revenue; an early report put cumulative gTOKEN volume above $8.4M.
On October 6, Grail suffered a security incident: an attacker escalated privileges via a database admin tool (not a contract bug) to mint unbacked gTokens and extracted ~40,000 USDC through the buyback mechanism. Grail absorbed the loss and moved vault authorization to multisig control.
Future strategy and roadmap: After the October security incident Grail moved its vault to multisig control and will next focus on expanding real-world-asset categories and a compliant custody network, reinforcing the one-to-one peg between gTOKEN and its Delaware insurance vault, and using multisig and on-chain proofs to raise the credibility of physical RWA issuance and redemption. It will also refine post-incident access and approval security and grow its custodiable asset range and user base.
Nick Tomaino, founder of incubator 1confirmation, started in product and crypto investment, formerly at Google and Coinbase, founded 1confirmation in 2017 and incubated the real-world collectibles tokenization platform Grail.xyz in 2025.
Bernd Greifeneder, Founder and CTO, co-founder of Dynatrace background, started in enterprise software monitoring, now leads Grail.xyz technical architecture, tokenization mapping and trading systems.
Rick McConnell, CEO, started in enterprise software, formerly President of Dynatrace, now leads Grail.xyz trading and redemption flows, compliant custody and coordination with the 1confirmation incubation.