Nick Tomaino on 1confirmation’s $125 Million Fund and What Future NFTs Will Look Like

June 1, 2021by Laura Shin

Nick Tomaino, general partner of 1confirmation, discusses his firm’s recently announced third fund of $125 million and gives his perspective on many hot crypto topics, such as NFTs, Layer 2 solutions, Polkadot, DAOs, and more. Show highlights:

• why Nick became interested in crypto and his background
• what drives 1confirmation’s investment thesis
• why he Nick believes NFTs have taken off in popularity this year
• why NFTs are currently in a bubble
• what we might do with NFTs in the future
• how competition between different NFT marketplaces will shake out
• how music NFTs could work
• the feasibility of charging royalties in the secondary sale of NFTs
• why environmental concerns over crypto mining to only be a short-term issue
• why Nick is not an Ethereum maxi and how he feels about the fragmentation of Layer 2 solutions on ETH
• why Polkadot is such an exciting project
• whether, as an early Coinbase employee, he would say the fat protocols thesis is true
• what new trend Nick is keeping an eye on for 2021 and beyond

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Episode Links

Nick Tomaino

Twitter handle: https://twitter.com/NTmoney 

Recommended Content:

• Writing
  • Introducing 1confirmation Fund 3
  • NFTs + Mimetic Desire
• Twitter Threads
  • Has crypto “earned it?” 
  • Ethereum + decentralized identity
  • WSB optimism
  • The crypto perfect storm
  • His journey from Coinbase to 1confirmation 
• Guest Appearances/Quotes
  • “Digital art has a chance to exceed $3 trillion in total value and flip traditional art”
  • “It’s not going to look the same as the crypto booms and busts, but there are going to be a lot of these sales that maybe don’t have buyers in the future”
  • “It’s clear we’re in some type of NFT bubble”
• Old Unchained Appearances

1confirmation

Basics

• Website/Portfolio
• Twitter
• Recently announced fund

Recently, 1confirmation has funded…

•  Notional Finance
• SuperRare series A
• Nexus Mutual
• dYdX series B
• Acala

Miscellaneous

• Meebits
• Polkadot governance
• Unchained podcast discussing the petrodollar
• Fat Thesis
• ZED Run

https://zed.run/