January 25, 2023
What would have been considered to be absolutely bonkos 24 months ago is now sort of normal. This is the stage that has been set before us as we go into 2023.
The last 12 months have been pretty rough if you're in the web3 space. Crypto has tanked, the NFT market dried up and you can't call 2022 anything but "The Year of the Fraudster".
We started Jump during all of the hype. It's our second foray into the space in fact, having dipped our toes in the water back in 2018. I continue to be convinced that there is something here among all of this investment, tech and community effort. We've just spent the last 12 months flushing out most (all??) of the bad actors. Now the real work can start.
One benefit of all of this craziness is that the bar for what is considered "normal" or "reasonable" has moved significantly. What would have been considered to be absolutely bonkos 24 months ago is now sort of normal. This is the table that has been set before us as we go into 2023.
Looking back, the SEC had a rough year too in 2022. Everybody has a reason to dislike them and most of them are wrong. They are, after all, administrators of the law. They don't write the laws but they do have to interpret them to a certain degree. While some say their jobs got harder with the advent and rise of NFTs, I would say it is actually getting easier. As we shake out what these NFTs can do, what they mean, what they represent (and don't), we can use that new benchmark of what is considered "normal" to describe real-world use cases that will change the landscape of what it means to participate in community ownership.
It's this backdrop that we now sit in front of on the precipice of some pretty cool new ways to interact with physical assets in a trusted, pre-determined digital form. It will be like the AWS-ification of physical assets with the services being laid on a canvas of blockchain, smart contracts, shared utility and passionate communities.
And so we begin.