1confirmation launches $100 million NFT fund

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2022-06-24 16:56:40

June 22, 2022, 1confirmation, A well-known venture capital fund in the crypto market, has launched NFT Fund with a value of up to 100 million USD.

1confirmation launches $100 million NFT fund. Photo: TheBlock

1confirmation is a cryptocurrency investment fund established in 2017, with an initial capital of only about 5 million USD. However, they currently manage a portfolio of about $1 billion.

As for the reason for being willing to spend a large amount of money on NFT, despite the current market downturn, Nick Tomaino, founder of 1confirmation, said:

“Most of the disruptive technology products that have a major impact on the world are initially judged to be too risky, it is only after many years, when the technology is widely and successfully adopted, that it becomes a reality. attractive to large investment funds. This was certainly true for Bitcoin and Ethereum 5 years ago, and 1confirmation believes it is true for NFTs today. On the surface, NFTs are useless but the truth is that they provide a new business model for content creators and empower the buyer to actually own it. The best creators in games, brands, art, music and more are now looking to use NFT and our new fund dedicated to supporting them early in their journey.”

According to Nick Tomaino, this $100 million NFT Fund will be divided into investments in bluechip collections such as CryptoPunks and Nounand will also focus on investing in new projects that the fund sees potential in all areas such as games, music, art… The goal of 1confirmation is to find projects that can be successful in the future. long-term.

Thus, after many other names, 1confirmation is the next investment fund to allocate a large and separate portfolio exclusively for NFT. 1confirmation has been very successful in the past with investing in projects like OpenSea, dYdX, Nexus Mutual, SuperRare, Acala…, can 1confirmation continue to find NFT “hidden gems”? You can follow the investments of this fund to continue looking for opportunities in the market!

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