April Fools’ is one of the toughest days for casual crypto observers because, to many, the industry is already beyond parody. Crypto made a coin based off of a dog a multi-billion-dollar asset—then repeated the trick. There’s a lady that sells fart jars as NFTs for $200 a pop. A child actor from “The Mighty Ducks” helped create not one, but two of the top-50 crypto assets.
Take this year’s crop of April Fools’ jokes.
Bankless HQ, a DAO and crypto media project, announced that the Philadelphia 76ers and Flyers would be playing in the Bankless Center. April Fools! But also not entirely implausible. If you had declared two years ago that the Lakers would spend the next two decades in Crypto.com Arena and the Heat would be plying their trade on the FTX Arena hardwood, people would have thought you were pulling their ACL.
And it’s not like decentralized finance—the blockchain-based apps that allow individuals to maintain custody of their assets as they lend, borrow, and swap directly with others—is necessarily that far behind. Just take a look at DAOs that have raised tens of millions to try to buy historical documents, artwork, and even sports teams.
Or how about SLEPN—the “sleep-to-earn” game which sounds ludicrous until you take into consideration just about every other thing about Web3? The lifestyle app uses “NFT pillows,” and a good night’s sleep allows users to mint better pillows. Laugh now, but this prank comes right after STEPN—a move-to-earn app—quadrupled its market capitalization within a week. While SLEPN is worth $0—until someone goes out and…