Los digital assets are representations of value, rights or properties that exist and are managed through digital technology, usually about blockchain, allowing for greater transparency, traceability and automation.

For a company, what is important is not the technical definition, but What type of digital asset makes sense depending on your business model. Broadly speaking, we can classify them into three key categories:

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Native digital assets

They are assets that are born and exist directly on blockchain.

Examples:

• cryptocurrencies such as Bitcoin or Ether
• utility tokens of a decentralized application
• governance tokens

Business opportunity:
They allow you to create own digital ecosystems, encourage the use of platforms, align users and companies, or enable new participation models.

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Tokenized Real World Assets (RWA)

Los Real World Assets (RWA) are digitally represented physical or financial assets through tokens.

Examples:

• tokenized properties
• shares or shareholding
• feedstocks
• economic rights

Business opportunity:
Tokenization allows improve liquidity, split investments and facilitate access to capital, even for SMEs or family businesses that do not want to sell control of the business.

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Collectible and identity digital assets

They mainly include NFTs, but its value goes far beyond digital art.

Examples:

• certificates of ownership
• digital memberships
• verifiable identity and credentials
• licenses or rights of use

Business opportunity:
They allow you to create direct relationships with customers, new loyalty models and verification systems that are impossible to falsify.

One of the biggest mistakes is to think that digital assets operate “outside the system”.

In reality, their business adoption requires a rigorous analysis of the legal framework.

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Regulation in Spain and the role of the CNMV

In Spain, the CNMV oversees projects that can be considered financial instruments or investment products.

When a digital asset represents:

• economic rights
• shareholding
• profitability expectations

may be subject to supervision or authorization.

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MiFID II and MiCA in the context of digital assets

In Europe, projects must analyze two key frameworks:

• MiFID II: applies when digital assets are in the nature of a financial instrument (security tokens).
• MiCA: regulates other cryptoassets and service providers.

Both frameworks are complementary, and its correct interpretation is key to the viability of the project.

Adopting digital assets is not about “issuing a token” or “using blockchain”, but about make a series of strategic, technical and legal decisions in the right order. This process makes the difference between a useful digital asset and one that never provides real value.

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Identify the business objective before the digital asset

The first step is not technological, but strategic.
Every company must answer questions such as:

• Am I looking for funding, operational efficiency or new revenue?
• Do I want to improve the liquidity of an asset or create a new one?
• Will the digital asset be internal, for customers or for investors?

A well-designed digital asset solve a specific problem, does not add unnecessary complexity.

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Choosing the right type of digital asset

Not all models require the same type of asset:

• native tokens for digital ecosystems
• tokenized real world assets (RWA) for investment or funding
• NFTs for identity, certification or relationship with customers

Choosing the wrong type of digital asset usually generates legal risks or lack of adoption.

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Analyze the legal and regulatory impact from the start

One of the most common mistakes is to approach regulation in the end.

Depending on the case, a digital asset can:

• be subject to MiFID II If it is a financial instrument
• to be affected by MiCA as a cryptoasset
• require supervision from the CNMV
• need specific contractual structures

Early legal analysis saves time, costs and future blocks.

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Designing technical architecture and governance

A business digital asset must clearly define:

• Who can issue it
• Who can transfer it
• What happens in key events (sale, redemption, expiration)
• How is it updated or evolved

Governance is as important as the smart contract.

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Scaling the digital asset in a sustainable way

A digital asset doesn't end in its issuance.
You must be able to:

• integrate with existing systems
• adapt to business growth
• meet new regulatory requirements
• Stay safe over time

In Unknown Gravity We work with digital assets such as strategic infrastructure, not as isolated experiments.