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
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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/