Last week I told you about the Futaba, a combination between a sofa, and coffee table. I lamented the fact that it didn't fold into a bed, as well, and luckily, someone came to my rescue:

The Calypso Chair, designed by Brandon Allen, has tons of storage space, can fold into a coffee table, a bed, and a sofa. Also, I don't think it exists in the real world, yet; but take that, futaba!

[Via The Design Blog]

Related: Update on the Old Flip-n-F@*k, Another Update on the Old Flip-n-F@*K