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

2021/6/1

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”