$ETH According to Mars Finance, Nick Tomaino - founder of the venture capital fund 1confirmation - posted a controversial statement on platform X:
"The rise of Ethereum signifies the 'death of crypto VCs' — 99% of investment funds in the industry will soon disappear. They were just in the right place at the right time to attract capital from institutions, but lack vision and creativity. The only way to survive long-term is to align with the real needs of users."
📌 Main argument:
Are crypto VCs becoming obsolete?
Most investment funds only capitalized on the wave of money from institutions during the 2017-2021 period, but did not contribute real value to the ecosystem.
Example: Many L1 blockchains funded by VCs (Solana, Avalanche competitors...) are losing value as Ethereum dominates.
Ethereum - "The VC killer"?
No need for permission: Developers can build DApps directly on Ethereum without waiting for VC approval.
Community decides: The most successful projects like Uniswap and Lido are community-led, not VC-led.
Which VCs will survive?
Focus on users: Invest in real solutions (e.g., MetaMask addresses the need for non-custodial wallets).
Long-term thinking: Abandon the "quick exit" model, embrace building an open-source ecosystem.
