Bankless 56 - Authenticity in Crypto | 1confirmation
Mar 15, 2021
Nick Tomaino and Richard Chen, partners at 1confirmation, dive deep into the essence of authenticity in the crypto world. They explore how genuine founders and projects shine amid a sea of fakes, emphasizing the importance of community engagement. The duo shares insights on navigating the current bull market, comparing it to past cycles while discussing the unyielding importance of narratives versus fundamentals. They tackle the legitimacy issues surrounding Binance Chain and highlight the ever-evolving landscape of DeFi and NFT investments.
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Mainstream Bull Market
- This bull market feels similar to previous ones, with extreme highs and lows.
- It's the most mainstream yet, thanks to NFTs, capturing interest from those outside crypto.
Cash Flows vs. Whitepapers
- Unlike the 2017 ICO boom, which was driven by whitepapers, this bull market sees billion-dollar DeFi projects generating cash flow.
- This suggests a more mature market with actual products being used.
Authenticity-Driven Investing
- One Confirmation's investment thesis is simple: back authentic founders building products for the crypto community.
- They prioritize products they understand as users.