Friday Fun: (1) Open Sea passed FOUR BILLION in August + Stuff, Junk, & Things of that Nature ; (2) Binance Gets Noticed by Singapore
Oh and a little bit more analysis on Web 3.0 & The Metaverse
Above is what we imagine Open Sea’s swiss bank account currently looks like.
As an NFT sitting on a hard drive, of course — not real gold.
That’s just ridiculous.
Moving on…
Our reports on Open Sea’s revenue have been foiled twice now.
September 6th
August 30th
Today — September 10th
**OpenSea’s NFT volume down 50% after monumental surge in August**
A seemingly innocent headline.
Upon further inspection, you’ll find the first sentence…
The leading NFT platform records a natural decline in sales volume after surpassing $4B in August; an industry-record.
Huh.
That sounds more like a monumental surge to us.
But maybe we’re overreacting?
It’s just four billion, right?
NBD?
NFTs
101 ‘Bored Ape’ NFTs Sell for $24.4 Million
The new must-have item in the world of NFT’s? Apes, apparently. On Thursday, the historic auction house Sotheby’s announced that a collection of 101 computer-generated NFT apes had sold for a whopping $24.4 million. While it’s not the most expensive NFT on the market (that honor goes to Beeple’s $69.3 million sale at Christie’s this past March), it’s still more than $24 million.
Man, we should have really majored in Graphic Design.
We think it’s time to finally go ahead and get Canva Pro.
Maybe we’ll pick up *Drawing For Dummies* too.
Cryptocurrency
Singapore Places Binance.com On “Investor Alert” List
Uh oh!
This means…well…truthfully we have no idea.
Checks article
Singapore’s central bank regulator, The Monetary Authority of Singapore (MAS), has placed Binance.com on its “investor alert” list.
The list identifies entities that may be perceived as being regulated or licensed by the MAS, when in reality they are unregulated in the area. Although Binance has a Singapore-specific website (Binance.sg), this is not on the list.
According to the exchange, Binance Singapore has applied for a license with the MAS and is operating under an exemption granted by the agency.
Ahh…much better.
Our only comment is that Binance is making moves, and, as a result, is getting noticed.
Reddit Musings
Often our favorite section of our newsletter.
Who doesn’t love the opinion of strangers, especially when they sound very confident, aloof, and it involves risking your money?
We certainly do.
Yes, that was a tongue-in-cheek statement, yet we’re also serious.
SOL is overhyped, [in my opinion].
SOL has seen a huge pump and I’m happy for everyone that made good gains on SOL, however I think many people will get burned on SOL as it’s still a pretty incomplete project
Unreasonable validator requirements(128GB ram, high end cpu, 100K SOL) — https://docs.solana.com/running-validator/validator-reqs
Solana Foundation selling heaps of tokens below market price to VCs
Insane bandwith requirements for nodes
Low fees don’t require much SOL to be used
Slashing isn’t done
I’m not against Solana or anyone investing/holding SOL. I just personally think the project got hyped up now that ETH fees are ridiculously high. Thoughts?
We honestly don’t have an opinion to give on the matter.
But, if you do, please let us know below!
Web 3.0 & The Metaverse
What initially seemed to be benign topics when we began this newsletter not so long ago, appears to suddenly be popping quite frequently.
This first article gives an excellent analysis and depiction of what Web 3.0 is, and what the term actually means.
Give it a full read if you’re still not understanding what it is, and what it ultimately means for the future of the internet.
Web 3.0: What Is It and How Will It Be Different From the Current Internet?
***Web 1.0 (1989–2005): *Also called the Static Web, it was the first internet that came into existence in 1989. Despite giving access to limited information with little user interaction, it remained the most reliable web source in the 1990s. It did not have algorithms to sift through Internet pages. This made finding useful information very difficult.
***Web 2.0 (2005-present): *The evolution of social media websites made the Internet a lot more interactive. HTML also contributed to its incredible popularity. Companies began setting up interactive web platforms such as YouTube, Facebook, Wikipedia, Twitter, Instagram pages. This started the process of user-generated content as Web.20 allows data sharing between various platforms and applications.
***Web 3.0 (anticipated): *It’s the next stage in the evolution of the Internet. During this phase, the Internet will become more intelligent and could process information almost like a human brain using the strength of AI systems. Since programs would be able to interact among themselves without being prompted by humans at every turn, the content generation would become highly intelligent and its distribution targeted.
It is expected that Web 3.0 will provide a more personal browsing experience and will help establish a more equitable Internet. Once this infrastructure is put into place, it is likely to trigger a new wave of innovations that will empower users with more control over their data. It will also make the Internet more integral to our daily lives. Most of today’s offline machines — like home appliances and transport systems — come online and interact with their autonomous servers.
Since Web 3.0 will operate through decentralised protocols, which are based on blockchain technology, it is expected that these two and cryptocurrency will converge in a close relationship.
What conclusively puts this concept together, is, of course, another loaded internet term that confused people.
You guessed it.
The Metaverse
Welcome To The Metaverse
The Metaverse then, to have a go at defining it, is where people enjoy digital experiences (driven by augmented and virtual reality) that are real to them in the sense that they involve activity, interaction and emotion, and that are increasingly anchored by infrastructure like the digital economy, digital identities and decentralised forms of organisation.
To clarify this a bit, some examples of the Metaverse or ‘mirror world’ are online video game Fortnite, virtual reality design tools for architects, social media tools like SnapChat’s Lens Studio, augmented reality tools that superimpose an interactive virtual world on a real one like a street map (on a car windshield for instance) that has pop ups signs customised for the user, and of course the growing ‘esports’ and virtual sports industry.
Factbox: What is the ‘metaverse’ and how does it work?
Metaverse, a term first coined in science fiction, is a combination of the prefix “meta”, meaning beyond, and “universe”.
It refers to shared virtual worlds where land, buildings, avatars and even names can be bought and sold, often using cryptocurrency. In these environments, people can wander around with friends, visit buildings, buy goods and services, and attend events.
The concept has surged in popularity during the pandemic as lockdown measures and work-from-home policies pushed more people online for both business and pleasure.
The term covers a wide variety of virtual realities, from workplace tools to games and community platforms.
Many of the new platforms are powered by blockchain technology, using cryptocurrency and non-fungible tokens (NFTs), allowing a new kind of decentralised digital asset to be built, owned and monetised.
In short, it’s basically the Oasis in the novel Ready Player One.
That’s the most simple explanation, in our opinion.
We suppose the primary difference between our coming reality and the ‘Metaverse’ concept that appears in the book is the use of blockchain technology and NFTs.
Pour Conclure
Our takeaway from today is…
Get involved with NFTs.
We’ll say it again, as we’ve said it a million times before: This stuff really hasn’t even truly started.
It’s essentially akin to hearing about rumors of Gold in California, back in the 1800s.
Yes, it’s that early.
Only 10 million or so MetaMask downloads.
Remember that.
10 million / ~7.6 billion.
And when you apply the 80/20 rule to give yourself an estimation of people actually making moves…
It’s even smaller.
Until next time.
Your Pal,
The Gopher
Disclaimer: None of this is to be deemed legal or financial advice in any way, shape, or form. You are reading opinions from an anonymous news publisher in Cartoon Gopher Format.
Questions & Comments: Please feel free to ask questions and leave comments as it relates to Crypto, Blockchain-Tech, NFTs, & Web 3.0 — or if you’d just like to say hello — I want to hear from you!
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