Nick Tomaino on 1confirmation's $125 Million Fund and What Future NFTs Will Look Like - Ep.242
Unchained
Exploring the Future of DAOs and Decentralized Media
This chapter delves into Decentralized Autonomous Organizations (DAOs) and their influence on the cryptocurrency ecosystem. It covers the current landscape of DAOs, their governance structures, and the vision for decentralized media, emphasizing the need for innovative products over speculative investments.
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
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- “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
- 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
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