In many ways, this week continues trends from previous weeks. The FTX collapse is still having repercussions, and commentators are still presenting post-mortem analyses. Chaos still reigns supreme at Meta, where employees are publishing devastating attacks on Mark Zuckerberg on anonymous fora. Mainstream newspapers are still publishing critiques of crypto, and true believers are still making a case for the value of the underlying technology.
Still, this week brings some major news items. First, as NFTs minted on FTX break and exposed the flaws of web2 storage technologies, the global platform for digital assets Ledger is unveiling new NFT products. Second, celebrities are being sued for their promotion of the Bored Ape Yacht Club NFTs, and the Federal Trade Commission announced that it is investigating various crypto companies for their digital asset advertising. Third, according to a new survey by Capgemini, more than 90% of consumers are curious about the metaverse.
Together, these news items could give metaverse enthusiasts hope: as regulators and the market punish unserious actors, underlying consumer demand and more serious players continue to be there.