Say 'Hi' To The Future Of Crypto

GM Readers!📪 It's BitDegree Insider, and let's shift that Web3 gear.

⭐️Today's selection:

• 🤖The Future Is Here
• 🎨Friday Fun
• 🧩️Answer To Thursday Quiz
• 👌Selected Meme of The Day
• 📰Bite-Sized News

SAY 'HI' TO THE FUTURE OF CRYPTO

Sometimes minor updates take place, and various systems get improved here and there.

But sometimes… Things just straight up level up, and we, humanity, realize we just passed a point of no return.

Here are some important events that are slowly, but surely, leading us towards this direction.

• In February, the Optimism team introduced the concept of Superchain — a protocol that will unite several networks into a single ecosystem.
• In March, Arbitrum introduced an analog of Superchain — the Arbitrum Orbit tool for creating its own network ecosystem.
• And a couple of days ago, Polygon announced version 2.0, which essentially is an analog of Superchain and Orbit.

We better don't ignore the latter. The Global Update Polygon 2.0 is something to be well aware of.

What is already known?

Polygon 2.0 is a radical redesign of every element of Polygon, from the protocol architecture to tokenomics and governance.

The developers will create a protocol based on Zero-knowledge, which will unite Layer-2 networks into a single ecosystem.

These networks will have unified liquidity and unlimited scalability.

Important point: nothing will change for users.

Interaction with Polygon 2.0 will be perceived as using a single blockchain.

The developers will share other innovations on June 19 and 26.

And they will talk about the evolution of the MATIC token and governance on July 10 and 17.

Now, it is clear in which direction the entire ecosystem will move.

If before the Layer-2 networks worked independently of each other and "pulled the blanket" over themselves, now they will be united into a single seamless ecosystem.

All of this can also contribute to the MATIC token getting out from under the scrutiny of the SEC.

Especially after the bankrupt crypto creditor Celsius announced, in the backdrop of stricter regulatory measures in the US, that all its clients' "altcoins" will be converted into Bitcoin and ETH, including MATIC.

And, if you took into account everything that's currently happening… It wouldn't be a surprise that Polygon would be the one who runs, so others could walk.

TL;DR: The introduction of Superchain, Arbitrum Orbit, and Polygon 2.0 are important events leading towards the integration of Layer-2 networks into a unified ecosystem with improved scalability and liquidity. Polygon 2.0 represents a radical redesign of Polygon, while maintaining a seamless user experience, and it may help the MATIC token evade regulatory scrutiny.

AN NFT 'MASTERPIECE'

Take a look at… This:

Now, This just sold for $6.2M USD (approx. 3920 ETH).

Uhmm… Thoughts?

So, here's the deal. A Sotheby's auction happened. It was a special auction, since it centered around digital art from the 3AC NFT collection.

One of the works, the Ringers #879 token, also known as "The Goose", was sold for $6.2 million.

As early as April, it was announced that Sotheby's would be auctioning the top artworks from the bankrupt Three Arrows Capital's NFT collection, titled "Grails."

This decision was authorized by Teneo, the firm responsible for handling the liquidation of 3AC, which previously held a collection of digital art pieces valued in the millions of dollars.

One notable example is "The Goose," which was acquired in 2021 for $5.66 million worth of ETH and became the prized possession of the 3AC collection.

Created by Dmitry Chernyak, this artwork initially had an estimated value of $2-3 million at the beginning of the auction.

However, due to high bidder interest, the token was eventually sold for $6.2 million, surpassing the fund's original purchase price by a significant margin.

The NFT was bought by a fairly well-known industry collector, Punk6529.

In total, more than 30 different works were displayed at the auction.

So that's that! Some Friday fun for y'all. But… you know what? Not everyone will find such news about expensive abstract geese very fun.

Therefore, here's something really fun. Bitcoin is in the green!

TL;DR: Sotheby's auction featured digital art from the bankrupt 3AC NFT collection, including "The Goose" (Ringers #879 token), which sold for $6.2 million. The auction, authorized by Teneo, showcased over 30 artworks and attracted high bidder interest, exceeding initial estimates and resulting in a significant sale.

ANSWER TO YESTERDAY'S QUIZ

So, yesterday we asked you this:

You had to find out what's the hidden word.

And, of course, the majority of you handled this with ease.

The answer is Staking!

Explanation: the 2nd letter in "snake" gets changed to a "t." Then you add a "king." You take into account how this whole thing sounds like… and you end up with the right answer!

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Cryptocurrency Exchange Binance Departs from The Netherlands. The Dutch authorities did not believe that Binance was worthy of a VASP license.
• EU Financial Watchdog Initiates Consultation on Crypto-Assets Framework. The European Union is gearing up for an extensive MiCA consultation process.
• Texas Officials Accuse Crypto Lending Firm Abra of Financial Misdeeds. Texas regulator claims that by the end of Q1, Abra was on the brink of insolvency.