Into The Metaverse

Boldly go where we've gone before, but this time with bored apes

This is not a post about Facebook, or the time it changed its name from The Facebook, or the odds Meta changes its name back to Facebook (although I’d take 5:1 if anyone is asking).

Things we think

It’s all a little different, but also, not so different, and not so better . . . yet.

Into the metaverse

We’ve previously asked, “what is everyone doing?” If they’re not working where they used to work, then where did they go? What are they doing instead? What do they do for income?

Well, one thing that they are doing (which is unlikely to show up in government labor stats) is making and trading pictures on the internet. Not just any pictures and not just any internet. Specifically, unique or “non-fungible” tokens (“NFTs”) on the distributed internet, a.k.a. the blockchain, a.k.a. web3.0. It’s probably the first time you’re hearing these terms, I’m sure.

People are doing this a lot. A lot a lot. The total monthly volume for NFTs traded on OpenSea (the largest NFT marketplace) was just under $2…