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

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!

E&Y: https://ey.com/globalblockchainsummit 

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2 

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero 

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/

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