The Debate of ETH vs. SOL and the Overlooked Layer 2 Conversation

In the bustling realm of Non-Fungible Tokens (NFTs), the debate between Ethereum (ETH) and Solana (SOL) often garners significant attention. However, an equally pivotal discussion lies in the evolution of Ethereum’s network, particularly its expansion from Layer 1 (L1) to a diverse ecosystem of Layer 2 (L2) solutions. This shift addresses two primary criticisms of Ethereum’s L1: high gas fees and slower transaction speeds.

Ethereum’s Layer 1: The Foundation of Trust and Security

Ethereum’s L1 is often criticized for its high gas fees and relatively slower transaction speed. However, it’s crucial to understand that Ethereum’s L1 serves a specific purpose. It acts as a settlement layer, ensuring the highest level of trust and security for large-scale transactions, not typically intended for everyday retail use.

The Emergence of Ethereum’s Layer 2: A Spectrum of Affordable and Fast Solutions

The evolution of Ethereum has led to the emergence of various L2 solutions, each offering lower costs and higher transaction speeds. These include:

• Optimism and Arbitrum: Focused on scaling Ethereum while ensuring security.
• Polygon: Known for its versatility and wide adoption.
• Base, zkSync, and ImmutableX: Offering innovative approaches to scaling and cost reduction, with ImmutableX achieving literally zero gas fees.
• Linea and Scroll: New entrants providing additional options for users seeking efficiency.

All these L2 solutions utilize ETH for gas and settle on Ethereum’s L1, contributing to the Ethereum ecosystem by burning ETH and generating revenue.

The Misconception of Ethereum’s Inefficiency

It’s a misconception to claim Ethereum as a whole is plagued by high gas costs and slow speeds. The high-cost, slower L1 is designed for specific use cases, while retail activity increasingly moves to the more efficient L2s, especially during the bear market.

Security, Decentralization, and Specialization: The L2 Advantage

L2s are not just about lower fees and faster transactions. They experiment with various levels of security, decentralization, and specialization, adding richness to the Ethereum network. This experimentation includes the development of new technologies like the SVM, MOVE, and fully private chains.

Interoperability: The Bridge to a Unified Network

Critics often point to the poor user experience of bridging between networks and the fracturing of liquidity. However, advancements in interoperability, like Chainlink’s Cross-Chain Interoperability Protocol (CCIP), intentions-based bridges, and decentralized exchanges (DEXs), are paving the way for seamless integration between these networks. This integration hints at a future where specialized chains operate harmoniously, enhancing the user experience.

Conclusion: Ethereum’s Transformation into a Network of Networks

Ethereum’s evolution into a network of networks, rather than a single shared state, aligns with the broader vision of a modular, interconnected blockchain ecosystem. This development not only addresses the limitations of its L1 but also opens up a world of possibilities for users and developers alike.

TL;DR: Ethereum’s expansion from Layer 1 to a diverse Layer 2 ecosystem addresses its high gas fees and slower speeds, offering a range of solutions with varying costs, speeds, and features. This evolution transforms Ethereum into a flexible, secure, and interconnected network, paving the way for a more efficient and user-friendly blockchain experience.

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In an exhilarating move, Square Enix, the mastermind behind the iconic Final Fantasy series, is blazing a trail into the NFT arena with their newest game, “Symbiogenesis.” As we inch toward the game’s launch on December 21, the gaming and crypto worlds are abuzz with anticipation, particularly due to Square Enix’s innovative approach to NFTs.

Innovating with NFTs in Gaming Symbiogenesis is not just another addition to the Square Enix portfolio. It represents a groundbreaking fusion of gaming and blockchain technology, utilizing Ethereum and Polygon networks. Its distinctive feature is the integration of NFTs into the gameplay, a pioneering step that has sparked a mix of excitement and curiosity across gaming and crypto communities.

#SYMBIOGENESIS『メインビジュアル』メイキング動画、公開。鋭意作成中！

Here’s the illustration process of SYMBIOGENESIS Main Visual (Making of Video) pic.twitter.com/DTtPwFOe9R

— SYMBIOGENESIS -NFT Art＆Game Project- | SQUARE ENIX (@symbiogenesisPR) November 13, 2023

A Three-Phase NFT Auction The game introduces its NFT characters through a three-phase auction, each phase uniquely designed. The first phase, ‘Stakeholder Mint,’ showcased ten characters, followed by ‘Priority Mint’ with 90 characters, and the final ‘AL Mint’ phase releasing 400 characters. This phased rollout not only creates anticipation but provides multiple opportunities for players to acquire their preferred characters.

Exclusive Auction Access The auctions are exclusive, accessible only to those on the Allow List from the Entry Campaign. Being on this list places you among a select group with access to these prized digital assets.

Strategic Bidding Each auction phase has its rules, with the first two phases allowing bids on one character and the third phase removing such limits. Bidding starts at 0 ETH, with increments of 0.01 ETH, and each bid entails a gas fee. Also, any bid in the last five minutes extends the auction by another five minutes, ensuring fairness.

Claiming and Benefits Post-auction, winners must claim their NFT Characters by December 6, incurring a gas fee. Additionally, holding onto these NFT Characters and logging into the game with the same wallet by December 28 grants an extra 5 Replica Issue Points.

Impact on Gaming Square Enix’s venture into NFTs with Symbiogenesis marks a pivotal moment in merging gaming with blockchain. This isn’t just about new revenue avenues; it’s about how blockchain can enhance gameplay and player interaction.

The Future of Gaming and NFTs With Symbiogenesis, Square Enix is potentially setting new standards for game development and monetization. This isn’t just a game launch; it’s a possible game-changer for the entire gaming industry.

Conclusion As we count down to Symbiogenesis, prepare your MetaMask wallets and be ready to possibly make history in the gaming world.

TL;DR: Square Enix’s Symbiogenesis is pioneering the integration of NFTs in gaming, with an exclusive three-phase NFT auction and benefits for early adopters. This game is not only a new addition to their portfolio but could also redefine the future of gaming and blockchain convergence.

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On August 9th, the NFT community eagerly tuned in to witness the unfolding of Frank DeGods’ pivotal announcements regarding his NFT projects, DeGods and y00ts. While the anticipated revelations did not disappoint, they also sparked a compelling conversation about the potential impact on y00ts’ value and status within the NFT realm.

Transitioning to Ethereum: The Big Step for y00ts

At approximately 5:30 pm ET, the first announcement reverberated across the NFT landscape: y00ts would be migrating from Polygon to Ethereum. This migration, though fraught with promise, has raised valid concerns within the community. The timing of the migration, while yet to be confirmed, marks a significant shift for y00ts, raising questions about its perceived value in relation to other NFTs.

Polygon y00ts

This strategic shift in migrating y00ts from Polygon to Ethereum, while laden with potential benefits, carries implications that extend beyond the immediate NFT landscape. The decision to depart from Polygon, a platform that had provided a substantial grant as part of the original move, could be perceived as a nuanced challenge for the Polygon ecosystem. The return of the grant funds, which were initially intended to incentivize growth, marks an unexpected turn in the relationship between y00ts and Polygon. This move could be interpreted as a momentary black eye for Polygon, raising questions about its ability to retain high-profile projects and ensure the longevity of partnerships in the rapidly evolving world of blockchain and NFTs.

1. y00ts will be migrating to Ethereum.

— y00ts (@y00tsNFT) August 9, 2023

Value Dilution and the Second-Tier Conundrum

The announcement of y00ts’ migration has brought forth a mixed sentiment within the NFT sphere. While Ethereum’s broader liquidity and reach are undeniably appealing, some stakeholders worry that this move could potentially lead to a dilution of y00ts’ value. The transition to the Ethereum mainnet begs the question: will y00ts maintain their standing as a unique and valuable NFT collection, or will they be relegated to a second-tier status in the broader Ethereum NFT landscape?

Market Dynamics and Response: Uncertainty Breeds Volatility

In response to the announcement, the subsequent overnight volatility signaled a more nuanced narrative. A portion of holders exhibited caution, resulting in a decline of the floor price to 1.7 ETH. This downturn, equating to an 8% reduction on the day and a staggering 23% decline from a recent local peak, underscores the market’s uncertainty and the delicate balance that the y00ts migration seeks to navigate.

In Search of Balance: Innovating without Compromising

Frank DeGods’ announcements on August 9th have ushered in a period of introspection and contemplation within the NFT community. The move to Ethereum is undoubtedly a testament to the project’s commitment to embracing technology and innovation. However, the potential implications for y00ts’ value have also ignited an essential conversation about maintaining uniqueness and desirability within a broader, more expansive ecosystem.

TL;DR: Frank DeGods’ decision to migrate y00ts to Ethereum has sparked discussions about the potential impact on y00ts’ value and position within the NFT space. While the move offers access to Ethereum’s liquidity, concerns have arisen about the potential dilution of y00ts’ value and whether they might become second-tier NFTs within the Ethereum ecosystem.

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As we navigate the complexities of the digital revolution, we are witnessing the birth of a new era in the cryptocurrency sphere. Polygon Labs announced the ambitious blueprint for Polygon 2.0 on June 12, 2023. This set of proposed upgrades is designed to radically reimagine almost every aspect of Polygon, from protocol architecture to tokenomics and governance.

Before we delve into the details of Polygon 2.0, let’s shed some light on the historical development of Polygon, formerly known as Matic Network.

The Polygon Journey

Launched in 2017, Polygon began as an offshoot of Ethereum, specifically designed to resolve scalability and usability issues. By employing a combination of Proof-of-Stake (PoS) and Plasma-based sidechains, Polygon aimed to deliver a high-performance, low-cost environment for developers to build and deploy decentralized applications (dApps).

Polygon quickly garnered attention for its scalability, speed, and cost-effectiveness compared to its predecessor, Ethereum. Its successful adoption by many developers for DeFi, gaming, and other dApps, is proof of its accomplishment.

As a multi-chain solution, Polygon creates an ecosystem where numerous chains can co-exist and interoperate with each other and with Ethereum. The platform offers a variety of frameworks, each designed to fulfill specific use cases, thus providing a well-rounded, flexible solution.

The SEC timing

the announcement of Polygon 2.0 comes at a rather intriguing time in the larger crypto industry. The U.S. Securities and Exchange Commission (SEC) has recently filed lawsuits against Binance.US and Coinbase, raising the question of whether Matic, the native token of Polygon, is a security. This development, potentially a significant regulatory challenge, has implications for all blockchain platforms and the broader digital asset industry. With the promise of Polygon 2.0 to transform and democratize the Internet’s value layer, the SEC’s scrutiny may further stimulate the ongoing debate about the definition and regulation of digital assets. It will be interesting to see how this situation evolves and how Polygon navigates the uncertain regulatory waters in the wake of this revolutionary upgrade.t\

Vision for Polygon 2.0

The primary vision of Polygon 2.0 is to create the “Value Layer” of the Internet – a decentralized, open-source protocol enabling anyone to create, exchange, and program value seamlessly. This Value Layer aims to democratize access to the global economy, akin to how the Internet democratized access to information.

Imagine the possibilities: a world with decentralized finance, digital ownership, new coordination mechanisms, and much more. All of this, without intermediaries, gatekeepers, or rent-seekers. In essence, Polygon 2.0 is not only an upgrade but a revolution that will make the Internet an environment that primarily serves users.

Building the Value Layer: The Key Pillars

The Value Layer, as envisioned by Polygon, borrows its concept from Ethereum. However, the current state of Ethereum and other blockchain ecosystems hardly resemble the structure of the Internet, characterized by infinite scalability and unification of information.

Blockchains aren’t infinitely scalable, and creating new chains often results in fragmented liquidity and reduced security. Polygon 2.0 is set to change that narrative by introducing a network of ZK-powered L2 chains, unified through a novel cross-chain coordination protocol. The whole network will be as seamless for a user as using a single chain.

This network will support a practically unlimited number of chains, and cross-chain interactions can occur safely and instantly, without additional security or trust assumptions. Unlimited scalability and unified liquidity – that’s the vision for Polygon 2.0.

Rolling out Polygon 2.0

The journey to Polygon 2.0 is a collaborative effort that includes Polygon Labs, developers, researchers, applications, node operators, validators, and the broader Polygon and Ethereum communities. Over the coming weeks, the team will share more details on the components of Polygon 2.0 via blog posts, AMAs, community meets, and more.

Polygon’s adoption of a formal governance process underlines the importance of community participation. As control over the Polygon protocol rests in the hands of its community, the role of builders, creators, and all others in the Polygon ecosystem is crucial.

Let’s brace ourselves for this new chapter in the story of Polygon. To keep up with the latest updates, follow Polygon Labs on various social media platforms and join the conversation. As we embrace this change, we look forward to witnessing the transformation of Polygon and the wider blockchain space.

Stay tuned, get familiar with Polygon 2.0, and join the revolution!

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Assassin’s Creed fans will soon have the opportunity to own limited edition NFTs based on the popular game, thanks to a collaboration between video game giant Ubisoft and Reality Labs. The NFT collection will be hosted on the Polygon blockchain, marking Ubisoft’s foray into the Web3 space. Let’s delve into the details of the highly anticipated Assassin’s Creed NFTs.

The Assassin’s Creed NFT Experience

Starting today, collectors can acquire “Assassin’s Creed Smart Collectibles,” physical items featuring game characters enclosed in transparent cubes. However, these collectibles offer more than meets the eye. They possess “digital souls” and are accompanied by matching NFTs.

Using the cutting-edge technology developed by Reality Labs, owners of the NFTs can customize their collectibles by choosing weapons, outfits, and stances. Once they have perfected their desired aesthetic, they can order a 3D-printed version of their NFTs, beautifully showcased within a clear cube.

What Sets Assassin’s Creed NFTs Apart: The cubes housing the NFTs will also incorporate NFC chips, enabling owners to tap their smartphones on the cube and witness a digital version of their character through a companion app. This immersive experience offers additional features and utilities related to the Assassin’s Creed universe.

Furthermore, the NFTs will feature varying rarity levels, granting holders of higher-tier NFTs a broader range of customization options. Additionally, lucky minters of rare NFTs will have the opportunity to sell their Assassin’s Creed NFTs on secondary markets like OpenSea.

2/ . . . IRL Smart Collectibles are unique collectibles consisting of physical and digital components. The physical component is a 3D-printed cube, authenticated by Authentic Vision and NFC tags, which is tied to the same address as the digital collectible.

— Assassin's Creed Smart Collectibles (@ACSmartCollect) May 11, 2023

Ubisoft’s Web3 Journey

Ubisoft’s venture into Web3 with Assassin’s Creed NFTs is part of a larger trend where brands leverage NFT technology to engage with consumers in innovative ways. The game publisher has previously explored the NFT realm, introducing in-game NFT items for Tom Clancy’s Ghost Recon Breakpoint and launching the NFT-powered soccer game spinoff, One Shot League.

With its track record of smash hits and groundbreaking gameplay, Ubisoft’s adoption of NFT technology positions the company as a prominent player in the gaming industry’s transition to Web3 and beyond.

Ubisoft’s partnership with Reality Labs brings forth an exciting fusion of physical and digital collectibles through the Assassin’s Creed NFTs. Fans can now own unique NFTs that unlock a world of customization options and digital experiences. As the gaming industry embraces Web3, Ubisoft’s integration of NFTs showcases its commitment to innovation and its determination to remain at the forefront of gaming for years to come.

Game Studios Still Cautious

Additionally, it’s worth noting that while Ubisoft is embracing NFTs, many game studios remain cautious about the potential backlash and repercussions associated with this emerging technology. The concept of transferring ownership of in-game assets to users and disrupting the traditional closed system model raises concerns within the gaming community. However, despite these reservations, other major players in the industry, such as Square Enix, are also actively exploring the integration of NFTs into their games. As the landscape continues to evolve, it will be interesting to see how different studios navigate the delicate balance between leveraging NFTs for innovation and addressing the concerns of their player base.

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Non-fungible tokens (NFTs) have taken the digital art world by storm, but they are now struggling to maintain their position as the hype cycle shifts and gas fees rise on the Ethereum network. In this blog post, we will explore the reasons behind these challenges, who is most impacted, and potential solutions for artists and collectors alike.

Shifting Crypto Trends

The crypto markets are known for following trends, and this year has been no exception. We’ve seen the emergence of farming NFTs on BLUR, the shift to Open Edition and burn mechanics on manifold, and a renewed focus on altcoins. The ease of creating ERC-20 contracts has shifted the narrative back to high-risk gambling for the crypto community. Consequently, the attention that was once focused on NFTs has waned, and artists are left grappling with these changing market dynamics.

High Gas Fees and Its Impact

The influx of funds chasing altcoins and meme coins has made the Ethereum network incredibly expensive for NFT participants. Profile Picture (PFP) projects, Web3 Games, and especially 1/1 artists are hurt the most. The constant appearance of memecoins and the competition among power users to get in quickly have led to skyrocketing gas fees that impact the entire network.

Artists are greatly impacted by high gas fees

One option for artists to circumvent high gas fees and the uncertainty surrounding NFTs is to work directly with collectors and facilitate private sales of art. If the art is already minted, fees can be lower in this scenario, as long as there is trust between the artist and the collector. However, adding a middleman or escrow service negates much of the potential savings due to the additional transaction involved.

High gas fees on the Ethereum network have significantly impacted both artists and collectors. For artists, the cost of minting new NFTs has become prohibitively expensive. Settling auctions and transferring ownership of NFTs can also incur high fees, discouraging collectors from participating in auctions or purchasing artwork directly. This, in turn, can lead to reduced demand and lower prices for NFT art.

Fear, uncertainty, and doubt (FUD) can further exacerbate the challenges faced by artists and collectors. As the hype around NFTs subsides and crypto trends shift, speculators may lose interest, causing the market for NFTs to contract. A decline in demand can lead to lower prices, making it even harder for artists to recoup their initial investment in minting and marketing their artwork.

Working directly with collectors can help artists bypass some of these challenges by establishing personal connections and building a loyal customer base. Artists can also use this approach to gain valuable feedback from collectors, helping them to refine their work and better understand market preferences.

Furthermore, by engaging directly with collectors, artists can educate them about the value of their work beyond mere speculation and hype. This can help to build a more sustainable market for NFT art, as collectors come to appreciate the artistic merit and intrinsic value of the pieces they acquire.

To mitigate the impact of high gas fees and the challenges posed by FUD and speculation, artists can explore various strategies such as offering discounts for bulk purchases, providing exclusive access to future work, or bundling digital and physical goods as part of the sale. By offering added value and fostering a sense of community among their collectors, artists can better navigate the uncertainties and fluctuations in the NFT market.

Exploring Alternative Blockchains

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Introduction: In a groundbreaking move, Sotheby’s has launched “Sotheby’s Metaverse,” a secondary marketplace for digital art aimed at addressing fragmentation in the 1/1 NFT market. By curating artists and aggregating their works across multiple platforms, Sotheby’s Metaverse is poised to become a leading destination for collecting, buying, and selling unique digital masterpieces.

The Launch: Kicking off with an impressive selection of top artists, such as XCOPY, Sam Spratt, Tyler Hobbs, and Claire Silver, Sotheby’s Metaverse will act as an aggregator of 1/1s from a curated selection of artists across various marketplaces. Peer-to-peer transactions will be executed on the Ethereum and Polygon blockchains, with a 2.5% fee on top of fully enforced royalties.

Navigating the Platform: When visiting an artist’s page on Sotheby’s Metaverse (https://metaverse.sothebys.com/), users will find a brief overview of the artist along with a separate tab containing their complete NFT collection. However, there’s room for improvement, as listing prices from other platforms have not been migrated yet. For example, XCOPY has 0 NFTs for sale on Sotheby’s Metaverse and 24 listed on SuperRare.

Why Sotheby’s Metaverse Matters: The fragmentation of 1/1 digital art pieces across multiple platforms like Foundation, SuperRare, and AOTM Gallery has made it challenging for collectors to grasp an artist’s full portfolio. While Escher attempted to resolve this issue for the digital art editions market, Sotheby’s Metaverse has emerged as the first mover for 1/1s, offering a significant advantage for collectors.

The Future of NFT Marketplaces: Sotheby’s Metaverse marks a new era in NFT marketplaces, providing a much-needed solution to fragmentation in the digital art world. For this innovative platform to truly succeed, however, it’s crucial for NFTs to be listed and actively traded. Keep an eye on Sotheby’s Metaverse as it continues to evolve and shape the future of the NFT ecosystem.

Sotheby’s Art and NFTs

Sotheby’s, founded in 1744, is one of the world’s most prestigious auction houses, specializing in fine art, jewelry, and collectibles. With its headquarters in New York City and locations in numerous other cities around the globe, Sotheby’s has a long-standing reputation for connecting collectors with rare and valuable items.

Sotheby’s and NFTs:

In recent years, Sotheby’s has recognized the growing significance of non-fungible tokens (NFTs) and digital art in the contemporary art market. As a result, the auction house has made several moves to embrace and support the NFT ecosystem:

1. Natively Digital Auction: In June 2021, Sotheby’s held its first NFT auction called “Natively Digital: A Curated NFT Sale.” This groundbreaking event featured works from various digital artists, including a rare piece by the pseudonymous artist Pak and the first-ever NFT created by Kevin McCoy, “Quantum.” The auction signaled Sotheby’s commitment to the burgeoning digital art market.
2. Collaboration with Pak: In April 2021, Sotheby’s collaborated with digital artist Pak to auction “The Fungible Collection,” a series of NFTs that explored the concept of value in digital art. The auction attracted widespread attention and generated millions of dollars in sales, further cementing Sotheby’s position in the NFT space.
3. World of Women NFT Auction: In August 2021, Sotheby’s hosted the “World of Women” NFT auction, showcasing a collection of digital art celebrating women’s empowerment and diversity. The auction aimed to promote gender equality and support female artists in the NFT community.

Sotheby’s has demonstrated its willingness to evolve and adapt to new trends in the art world by embracing NFTs and digital art. The launch of Sotheby’s Metaverse, a secondary marketplace for digital art, marks yet another significant step in the company’s commitment to staying at the forefront of the rapidly changing art market.

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Reddit recently announced the deployment of the third generation of its blockchain-based digital collectibles called “Reddit Avatars” on the Polygon blockchain. This has sparked mixed reactions among the platform’s community members, with some praising Reddit’s marketing efforts and others expressing doubts about the potential saturation of the NFT market. we found this news from cointelegraph.

Reddit Avatars were first introduced in July 2022 as a platform for artists to create and sell their digital art. Whenever users purchase a collectible, they can set it as their avatar on Reddit’s website. The avatars were launched in August 2022 and generated thousands of dollars in sales for the artists. On April 5, 2023, Reddit deployed the contract for the Gen 3 avatars on the Polygon blockchain.

Some members of the community are excited about the release and predict that the avatars will sell out within minutes. One collector who participated in collecting the first and second generations of avatars expressed their excitement about the new drop. However, some community members doubt that the avatars will sell as fast as expected due to the cumbersome payment process.

Despite the surge in trading volume of Reddit’s NFTs in the past, there are concerns about the current market saturation and the possibility of oversaturation in the future. Some community members also question whether the marketing efforts of Reddit can sustain the hype around NFTs and change the anti-NFT narrative within the platform.

The potential saturation of the NFT market is a valid concern. The number of NFT projects and collections has grown significantly in recent years, leading to a more competitive and crowded marketplace. With so many projects vying for attention, it is becoming increasingly difficult for individual projects to stand out and attract buyers.

However, there is also a possibility that Reddit’s marketing efforts and established user base could give it an advantage over other NFT projects. Reddit has a massive user base and a strong community, which could help it stand out in the crowded NFT marketplace.

In conclusion, the deployment of Gen 3 NFT avatar contracts on Polygon by Reddit has sparked mixed reactions among the platform’s community members. While some are excited about the potential sell-out of the avatars, others doubt that they will sell as fast as expected due to market saturation and a cumbersome payment process. The success of Reddit’s NFTs will depend on whether its marketing efforts can sustain the hype around NFTs and its established user base can give it an advantage in the crowded marketplace.

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Web3 is a term used to describe the next evolution of the internet, which will be decentralized, user-owned, and powered by blockchain technology. It has been hailed as the future of the internet and is expected to transform the way we interact with digital services, data, and identities.

One of the most exciting use cases of Web3 is digital identity, and the market value for digital ID is predicted to reach $70bn by 2027. Digital identities will enable users to take control of their data and build their identity over 40,000 Web3 services, send and receive crypto to an easily readable wallet address, create decentralized websites, and so much more.

In light of this, Polygon, a Web3 giant, has partnered with Unstoppable Domains, the world’s leading Web3 domain provider, to launch its own Web3 domain, .Polygon. This will enable over 180 million users of the Polygon blockchain to take control of their digital identities and data.

“Web3 domains will give our community a digital identity that they fully own, so they can log into dapps without giving away their personal information and transact crypto without lengthy wallet addresses,” said Sanket Shah, Vice President and Head of Growth at Polygon Labs. “We’re thrilled to make user-owned digital identity a core part of the Polygon ecosystem.”

With .Polygon domains, people can create a digital identity that they fully own and signal their support for Polygon, which hosts some of the biggest projects in Web3, DeFi apps, and NFTs. This will enable dApps in the Polygon ecosystem to build community and deepen their relationships with users. Dapps can join Unstoppable’s community of 750 integrated apps by adding Login with Unstoppable – allowing users to log in seamlessly with a .Polygon identity, without having to remember a password or crypto wallet address.

Moreover, every domain minted and transacted on Polygon will be carbon neutral and eventually carbon negative, contributing to the overall goal of leading Web3 in becoming carbon negative.

The launch of .Polygon domains will give users a portable identity to use across more than 750 apps, games, and metaverses. Web3 domains can be used to log into web applications, replace lengthy crypto wallet addresses, and create decentralized websites. Additionally, Unstoppable Domains allows people to create profiles and connect them with their social channels, showcase on-chain tokens like tickets and awards, display badges, and more – creating a single digital identity for Web3 and the metaverse.

To celebrate the launch, Unstoppable Domains is offering an exclusive discount of 25% off, up to $25 total, on .Polygon domains for the next 48 hours only on the Unstoppable website. Following the sale, starting March 16, Unstoppable Domains will launch exclusive access to premium .Polygon gaming and digit domains.

The launch of .Polygon domains is a significant step towards enabling user-owned digital identities and building the Web3 ecosystem. With digital identities becoming more prevalent, it is essential to have effective solutions that provide users with control over their data and identities. .Polygon domains, in partnership with Unstoppable Domains, will enable users to take control of their digital identities, transact crypto without lengthy wallet addresses, and create decentralized websites, contributing to the overall goal of leading Web3 in becoming carbon negative.

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More than three million people have signed up for cryptocurrency services, trying to get their hands on one of Reddit’s collectible avatars.

Since the launch of the first season of ‘The Subreddit’, fans have created more than three million Reddit Vault accounts to purchase and trade NFTs (Non-Fungible Tokens) based on the Snoo character from the show.

According to data from Polygon and Dune Analytics the trading volumes of Reddit NFTs has surpassed $1.5 million during the last 24 hour period.The rise represents over one-thirds of the collection’scumulative trading volumes of $4.1million since its release.At the same timethey also saw an all-new record for daily sales of 3,780 digital items. – Cointelegraph

Reddit isn’t the only social media platform to embrace NFTs as profile photos. However, it’s one of the most popular ones.

For example, Twitter launched NFT profile pictures for its Twitter Blue subscribers in January, which drew a ton of attention from the crypto community. However, Meta Platforms allowed NFTs for Facebook users last month but has struggled to overcome growing pain — like fake legs — with its metaverse rollout.

It’s also one among several blockchain-related features that have launched on reddit this year.

After launching the Polygon NFTs in July, the website released some free NFTs to power up community members who had gained a certain number of points from their contributions to the website’s communities in August.

The same day, the company announced that they were going to use Arbitrum Nova, a new version of their popular Ethereum-layer 2 protocol Arbitrum, to speed up their community points system.

On Reddit, aviators are minted as nonfungible tokens (NFTs) on the Polygon blockchain, which can be purchased from the company’s own crypto wallet. They can then serve as profiles for users who post their creations on the site.

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