About this episode
What do you get when you cross a middleschool sneakerhead, a Bitcoin pizza-esque 30 million dollar engagement ring, and a knack for spotting the next big thing onchain?
You get Nick Tomaino, crypto OG and founder of iconic crypto venture fund 1confirmation.
On this episode of ZEROPOD, host Toady Hawk digs in with Nick about working at Coinbase in the very early days, the passion for collecting that led him from copping kicks and rare books to NFTs and ERCs, and founding and running one of the most successful early investment funds in the space.
Nick also talks candidly about his bull case for Degen, Farcaster and Ethereum (he thinks one of those will even one day flip Bitcoin), why Ethereum doesn’t need a Michael Saylor, and what he thinks is the best advice for new investors in the space: just believe in something.
---
Timestamps:
0:00 – Intro: Find Something More to Believe In
1:02 – Welcome to ZEROPOD: Meet Nick Tomaino
2:02 – Nick’s Sneaker-Collecting Days
How basketball and sneaker culture shaped Nick’s early passion for collecting.
3:39 – The Collector Gene: Rare Books and Americana
Nick’s family history of collecting and how it influenced his love for rare books and later NFTs.
6:42 – Crypto vs. Rare Books: Liquidity and the Future of Collectibles
Nick compares the illiquidity of traditional collectibles to the fluidity of NFTs.
10:21 – College Days: Economics and a Focus on Making Money
Why Nick studied economics and his early ambitions to optimize for financial success.
12:42 – Learning About Venture Capital
How Fred Wilson’s blog inspired Nick’s interest in venture capital and crypto.
15:16 – Joining Coinbase: Early Days of Bitcoin Adoption
Nick’s journey to Coinbase in 2013, hustling his way into the company, and working on business development.
20:03 – Starting 1confirmation: Supporting Early Crypto Projects
Nick explains the genesis of 1confirmation and its focus on being the first check into game-changing projects.
22:00 – Why the Name 1confirmation?
The blockchain-inspired reasoning behind the fund’s name.
23:49 – Opensea and CryptoKitties: Early Investments
Nick’s experience with CryptoKitties and why he believed in Opensea’s potential.
26:47 – Degen: Why Social Tipping Matters
The evolution of tipping mechanisms in crypto and their role in driving adoption.
30:36 – Thoughts on Farcaster and Decentralized Social Media
Nick discusses Farcaster as the best decentralized social network and its role in enabling financial opportunities.
36:39 – Farcaster Projects: Clanker, Anoncast, and More
Nick evaluates recent Farcaster projects and the importance of experimentation.
40:04 – The Value of In-Feed NFT Minting
Nick shares why he believes microtransactions and NFT minting are the next big things for creators.
45:08 – Ethereum’s Strength and Long-Term Potential
Why Nick believes Ethereum could flip Bitcoin and the importance of innovation over narratives.
49:12 – The Importance of Skin in the Game
How crypto allows more people to h
