# On-Chain Representation: Conditional Claim NFTs

Each Global Gold Coin is represented by a Conditional Claim NFT, which functions as the on-chain representation of a legally structured conditional claim for that specific coin.

The NFT encodes:

* Coin type and mint
* Year of issue
* Weight and purity
* Vault location and jurisdiction
* Legal claim conditions
* Custody and audit attestations<br>

The NFT grants the holder a legally structured, enforceable right to acquire title to that specific coin once jurisdictional and vault-level conditions are satisfied.<br>

The protocol does not custody the coin, does not intermediate delivery, and does not exercise discretion.