Ethereum 2.0 is FINALLY here and why you should care đ§
GM,Â
This is Cryptonite, your twice-a-week shot to stay updated about the crazy world of crypto. We hit you with whatâs relevant, upcoming and funny â minus the FUD.
Letâs get started đ„
Eth 2.0 is coming đ€Ż
Ethereum 2.0, one of the biggest crypto events is finally all set to happen this year. The merge was initially scheduled for launch back in 2019. Now, the Merge could be set for September 19th, 2022. Thatâs close. But this time, it seems like Ethereum 2.0 could be implemented as planned.Â
What is the merge?
The merge is the biggest event for Ethereum ever. It moves from its functioning mechanism of proof-of-work â proof-of-stake.Â
Most simply, this means faster transactions, way lesser energy usage, and one step closer to scalability.Â
Why has it taken 3 years though?
Developers have to do a lot of research, perform countless tests, and so on. No surprise that it takes time. A LOT OF TIME. But, the good news is that one of the last tests, before transferring Ethereum fully on the Merge, went successfully!
The timeline right now looks like this:
Goerlich Test Merge: week of August 11th (the final testnet!)
The Merge: week of September 19th
Why should you care? Think of it like seeing those early days of Apple launching the iPhone. The only difference here is we know whatâs upcoming and how big of a deal it is. Keep an eye out and be a part of crypto history while it happens.
Why Polygon is hot right now đ„
Itâs been Polygonâs world this week and weâve been just living in it.
Polygon aka MATIC, one of the top 5 cryptocurrencies in the world has been selected as one of six companies to participate in a Disney Accelerator program. Think of this as Disneyâs efforts to break into the Web3 world of NFTs. Some of the highlights of the program include:
Networking with other large companies selected for this program with the âcreativity, imagination, and expertise of Disneyâ.
Each participant company will receive guidance from Disneyâs senior leadership team, as well as a dedicated executive mentor.
After the news broke up, MATIC jumped ~27%.
Second, support for MATIC deposits and withdrawals is now live on Robinhood. Robinhood, one of the worldâs largest trading platforms, has seen Matic delivered to millions of potential buyers, which has moved well in the markets, resulting in the current push to the upside.Â
Why care? MATIC seems to be finding or paving its way around a very large number of mainstream projects and we believe itâs most likely to find its way to onboard newer users to the world of crypto through its partnerships.Â
Tony Hawk flips into the Metaverse đč
Another day, another game. Tony Hawkâs Pro Skater has found its way into the world of Crypto after its partnership with gaming blockchain tech Sandbox. It will be called ââthe Tony Hawk Land and the goal is to build the largest virtual skatepark ever made.
Who is Tony Hawk? Well to simply put it, heâs been a World Champion for 12 years in a row and remains the most recognized action-sports figure in the world.
Hereâs a sneak peek:
The game will feature a Tony Hawk avatar NFTs based on Tony Hawk and his most iconic skateboards, equipment, and apparelÂ
Why care? We donât believe that all NFT, P2E or metaverse projects might survive in the long run, but we are SURE that these games in the bear market will find a way to make utility and the game fun for all users coming in. Keeping an eye out, will allow us to build better games in the future.Â
Crypto Bytes âż
Mastercard is partnering up with Fasset (Finance and Accounting Services Sector Education and Training Authority) to encourage crypto adoption in Indonesia!Â
OpenSea Just Laid Off 20% of Its Staff. The great layoff continues sadly.
Inflation in the U.S hit 9.1% in June, higher than it has reached in over 40 years. Buckle up, friends!Â
Samsung takes a blind leap into Move to Earn gaming, a market that has yet to be truly tapped into. They have just invested in GenoPets, which is built on the Solana blockchain!Â
New York Yankees Ready to Pay Employees in Bitcoin by Partnering With NYDIG.
Tweet of the week
Meme of the week
DISCLAIMER:Â
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.