Jun 1, 2021

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
  • • 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 
• SuperRare series A
• • https://decrypt.co/63295/nft-marketplace-superrare-9m-funding-mark-cuban
• Nexus Mutual
• • https://decrypt.co/57844/vc-firms-invest-2-7-million-in-defi-insurer-nexus-mutual
• dYdX series B
• • https://integral.dydx.exchange/dydx-closes-10m-series-b-investment/ 
• Acala
• • https://www.theblockcrypto.com/linked/76313/polkadot-based-defi-project-acala-raises-7-million-saft 

Miscellaneous

• Meebits
  • https://meebits.larvalabs.com/
• Polkadot governance
  • https://polkadot.network/polkadot-governance/
• Unchained podcast discussing the petrodollar
  • https://unchainedpodcast.com/bitcoin-vs-the-petrodollar-which-is-more-environmentally-friendly/
• Fat Thesis
  • https://www.usv.com/writing/2016/08/fat-protocols/ 
• ZED Run
  • https://zed.run/