BlockBeats News: On April 29, Nick Tomaino, the founder of 1confirmation, posted on X, “There is a negative correlation between the popularity of the seed round and the success of the project. It’s really exciting to be part of a hot funding round: high funding amounts, fierce competition, big-name investors, lots of media coverage, etc. However, engaging in such “hot projects” before the product-market fit is clear rarely leads to truly outstanding results. At 1confirmation, some of the most “hot” projects we’ve invested in have been the worst performers. There are several reasons for this: · Making market heat is a skill, but it’s a completely different ability than building a useful product. Founders who are “crowned” prematurely tend to feel that they have succeeded and thus lose their “killer” instincts. Too much financing often leads to distraction and lack of focus. I would choose a dedicated and committed founder over a respected founder who is busy working all day.”
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