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August 24th, 2021 - Thatguyintech's weekly update
Last Sunday, I finally got my hands on this special edition of Fortune magazine. It’s their annual Fortune Global 500 issue where they rank the world’s largest companies by revenue. But also, it’s a big milestone in the crypto, DeFi, NFT movement: the cover at is done by @pplpleasr and it includes avatars of people involved in the web3 industry.
That’s the twitter png version, here’s my “real-life NFT” version:
Reading this issue of Fortune felt surreal because it was like opening a gift box and the items inside are things you’ve been looking at and saturating yourself with all day. I interviewed with Compound Finance for an engineering position last year, and now Robert Leshner is in the magazine talking about how they decentralized the company. I created a developer tutorial for getting started building on the Flow blockchain two weeks ago, and now the CEO of Dapper Labs, Roham Gharegozlou, has a feature section discussing collectibles, gaming, and their new custom blockchain built for scale.
I’m still marveling at how crazy NFTs have gotten in such a short period of time. Just to give some perspective, here’s a dune.xyz dashboard that tracks OpenSea metrics: https://dune.xyz/rchen8/opensea
In August, over $1.6 Billion USD worth of NFTs have changed hands on OpenSea, and the month isn’t even over yet.
There were about 1,000,000 pieces sold, so the average price for an NFT on OpenSea is somewhere around $1,600, or just over 0.5 ETH at today’s prices.
And here’s the kicker:
There are only 261,185 registered users who have made at least one transaction on OpenSea.
Sure, these graphs only include stats for the OpenSea marketplace, but it’s one of the most popular marketplaces right now.
We are so early.