Research Summary
In this video, Nick Tomaino, GP of 1confirmation, discusses the current state of the crypto market, focusing on the issues with venture capital (VC) in the crypto space, the potential of OpenSea and NFTs, and the future of crypto adoption. Tomaino criticizes the VC approach to crypto, arguing that it often leads to “dumb money” investments. He also discusses the potential of OpenSea, despite its lack of a token, and predicts a comeback for NFTs. Tomaino also touches on the future of crypto, suggesting that while UX improvements are necessary, the key to mainstream adoption lies in developing compelling new consumer behaviors.
Actionable Insights
- Reconsider VC approach to crypto: Tomaino suggests that the current VC approach to crypto often leads to unwise investments. Investors should consider this critique when making investment decisions.
- Watch OpenSea closely: Despite its lack of a token, Tomaino sees potential in OpenSea, especially if NFTs make a comeback. Investors should monitor OpenSea’s progress and consider it as a potential investment opportunity.
- Focus on developing compelling consumer behaviors: Tomaino argues that the key to mainstream crypto adoption is not just improving UX, but also developing compelling new consumer behaviors. Crypto developers should focus on creating unique, engaging experiences to attract and retain users.
