We finally took a moment to peer outside of what is happening in web3 besides Ordinals and Bitmap. We haven’t properly analyzed the state of sentiment overall since we began heavily following Ordinals once BRC20s were introduced back in March and April. Since then, we’ve found ourselves in a much more positive sentiment as content creators because of all the rapid innovations and foundational value creations happening on Bitcoin. However, once we looked back on the rest of web3, we found a much more depressing outlook due to major hacks and exploits, SEC attacks on HEX, constant rugpulls, and overall notable influencers pushing an anti crypto narrative. This leads us to believe we are likely in a peak bear market stage which according to the Wall Street Market Psychology Cheat Sheet is the depression phase. Also, we introduce the idea of digital matter theory which speaks to the idea of creating digital value through non-arbitrary processes that are reliant on blockchain data and information.

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1. First up, We peer outside of what is happening in web3 besides Ordinals and Bitmap

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