Nick Tomaino on 1confirmation's $125 Million Fund and What Future NFTs Will Look Like - Ep.242

Jun 1, 2021

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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
Thank you to our sponsors!
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Episode Links

Nick Tomaino

Twitter handle: https://twitter.com/NTmoney
Recommended Content:
Writing
Introducing 1confirmation Fund 3

https://thecontrol.co/1confirmation-fund-iii-4633d18273e

NFTs + Mimetic Desire

https://thecontrol.co/stories-scarcity-and-mimetic-desire-c4a344fa74e1

Twitter Threads
Has crypto “earned it?”
https://twitter.com/NTmoney/status/1391782884202061824

Ethereum + decentralized identity
https://twitter.com/NTmoney/status/1389608747924742157

WSB optimism
https://twitter.com/NTmoney/status/1356036385287720960

The crypto perfect storm

https://twitter.com/NTmoney/status/1352301464060760064

His journey from Coinbase to 1confirmation

https://twitter.com/NTmoney/status/1353405899990155264

Guest Appearances/Quotes
“Digital art has a chance to exceed $3 trillion in total value and flip traditional art”
https://fortune.com/2021/03/30/nft-crypto-superrare-art-market/

“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”
https://cheddar.com/media/nfts-facing-bubble-but-crypto-art-platforms-see-long-term

“It's clear we're in some type of NFT bubble”

https://www.nytimes.com/2021/04/25/technology/cryptocurrency-mainstream.html

Old Unchained Appearances
https://unchainedpodcast.com/nick-tomaino-on-why-he-is-skeptical-libra-will-be-significant/

https://unchainedpodcast.com/icos-why-people-are-investing-in-this-380-million-phenomenon/

1confirmation

Basics
Website/Portfolio

https://www.1confirmation.com/portfolio

Twitter

https://twitter.com/1confirmation

Recently announced fund

https://thecontrol.co/1confirmation-fund-iii-4633d18273e

Recently, 1confirmation has funded...
Notional Finance

https://www.coindesk.com/notional-raises-10m-to-grow-defi-lending-protocol-with-real-world-potential