BlockBeats news: On June 21, the crypto venture capital firm 1confirmation released an open letter to its limited partners, announcing that the cumulative cash distributions from its funds have reached approximately $317 million, surpassing the total capital committed to the funds of approximately $286 million, marking a milestone of positive returns.
In terms of incubated businesses, 1confirmation has disclosed that it is incubating Grail.xyz, a platform tokenizing physical collectibles, focused on bringing real-world assets such as sports cards and jerseys onto the blockchain, and providing global access—particularly to users in emerging markets. The project launched in early May and has since accumulated over 9,000 users, with total platform trading volume exceeding $1.15 million and revenue surpassing $165,000.
In terms of investment direction, 1confirmation predicts that market trading volume will continue to set new all-time highs, with Polymarket and Limitless leading the on-chain transaction share. Stablecoin consumption applications are also steadily gaining adoption among mainstream users; the firm has already made early investments in projects such as Littio, Munify, Ruvo, and Karsa, and plans to further increase its commitment to this sector.
The open letter also issues a warning about the current state of the industry, highlighting the prevalence of crony capitalism and questionable institutional credibility, and calls for a return to the original vision of cryptocurrency as a tool for empowering individuals.