Venture Capital Firm 1confirmation: Cumulative Cash Distributions Exceed Investment Amount, Incubating Physical Collectibles Tokenization Project Grail.xyz

BlockBeats News, June 21st, Cryptocurrency venture capital firm 1confirmation recently released an Open Letter to LPs, announcing that its fund's cumulative cash distribution has reached approximately $317 million, exceeding the total capital commitment of about $286 million, achieving a milestone in positive returns.

On the incubation front, 1confirmation disclosed that it is currently incubating the physical collectibles tokenization platform Grail.xyz, which focuses on bringing physical assets such as sports cards and jerseys onto the blockchain, opening up access channels to users worldwide, especially those in emerging markets. The project went live in early May, attracting over 9,000 users to date, with a total platform trading volume exceeding $1.15 million and revenue over $165,000.

Regarding investment direction, 1confirmation indicated its belief that the prediction market trading volume will continue to reach new historical highs, with Polymarket and Limitless leading on-chain trading share; stablecoin consumption applications are also continuously penetrating mainstream users. The firm has made early investments in projects such as Littio, Munify, Ruvo, and Karsa in this sector and plans to further increase its investment in this area.

The Open Letter also issued a warning about the current state of the industry, pointing out the prevalence of oligarchic capitalism and institutional credibility issues, and called for a return to the original intention of cryptocurrency technology as a tool for empowering humanity.