Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: Making ‘Ready Player One’ non-fiction

• 🔎 This seems important: Holy hell! Bitcoin just flipped silver.

• 🤝 Partner: This market with 63% price growth isn't just for billionaires anymore…​

• 🔪 Let's dissect this: Solana-style transaction fees, on Ethereum? Yes please.

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Metaverse, Stablecoin, Layer 2, Blockchain.

💅 This is cool:

Making ‘Ready Player One’ Non-Fiction

In one sentence: Ernest Cline (author of ‘Ready Player One’) is developing a metaverse called The Readyverse, and its first experience is a battle royale called ‘Open.’

Imagine if James Cameron started making walking/talking humanoid robots, à la The Terminator…

That’d be kinda cool…right?

But then, what if he was also endowing these robots with an AI consciousness that had the potential to wipe out humanity, also like The Terminator.

Not so cool.

☝️ There’re some parallels with that hypothetical, and today’s story…

Ernest Cline’s ‘Ready Player One’ tells the story of a not-too-distant future, where:

• Society as we know it has largely crumbled

• The world has become just a tad ‘Mad Max-ish’

• Most of humanity escapes this harsh reality through a VR wonderland known as ‘The Oasis’

Yeah, well — Ernest Cline is apparently working on building said VR wonderland, irl.

In this reality, Ernie’s metaverse is called The Readyverse, and its first experience is a Fortnite-style battle royale called ‘Open.’

On one hand — super exciting!

Cause (minus the whole ‘collapse of society’ thing) ‘The Oasis’ metaverse described in the book sounds like a lot of fun!

On the other…slight ‘James-Cameron-building-an-irl-Terminator’ vibes.

Either way, we’re going to try it out, cause we’re suckers for new tech and are itching to have our first ‘this is it!’ metaverse moment.

(And so far, we’ve only been let down).

🥇 Want the news before anyone else?

🔎 This seems important:

Holy Hell! Bitcoin Just Flipped Silver.

In one sentence: BTC hit $72.7k, dragging the rest of the market up with it (ETH +3.3%, SOL +2.06%, XRP +19.39%, ADA +6.66%, AVAX +12.28%, DOT +8.52%, LINK +7.56%).

Alright, time to talk markets.

Monday arrived, and with it came more buying from the Bitcoin ETFs, dragging BTC’s price up to $72.7k.

In the process, making all of the Bitcoin in the world, more valuable than all of the silver in the world!

(WILD).

What happens when Bitcoin moves? The rest of the market tends to follow.

As of this writing, these are the upward moves we’ve seen from alt coins in the last 24 hrs:

ETH +3.3%, SOL +2.06%, XRP +19.39%, ADA +6.66%, AVAX +12.28%, DOT +8.52%, LINK +7.56%, NEAR +15.98% (not bad!).

Ok, so what now — and where to next?

No idea! But then again, no one knows.

Now that BTC’s all-time-highs have been well and truly broken, we’re in a phase known as ‘price discovery,’ where there’s no direct historical precedent or chart patterns to go off.

The market will move up or down based on…not blind confidence — but confidence that is vision impaired, at the very least.

That said, consistency can still be found in the market, thanks to the Bitcoin ETFs — they’re gobbling up hundreds of millions (if not billions) of dollars worth of BTC each day, on behalf of their share holders.

(Share holders who have a tendency to ‘buy and hold’ instead of buying/selling based on day-to-day fluctuations in price).

What does this ‘buy and hold’ approach lead to?

The sustained buying pressure pushes prices up, while long term holds stabilize the price.

That’s not to say we won’t see some face-ripping daily drops of 10-30% (depending on which coin/token you’re holding), this is still crypto after all…

But in a market that’s currently vision impaired, and in uncharted territory — it’s a nice consistency to have.

🤝 Partner:

This Market With 63% Price Growth Isn’t Just for Billionaires Anymore…

Over the last 20 years, record prices achieved for Banksy’s art have grown at an astounding 63% compound annual rate. Even more impressive? It's not just the ultra-wealthy benefiting from this phenomenal growth. Thanks to Masterworks.  

Masterworks enables its 820,000+ users to access investments in multi-million dollar artworks by artists like Banksy, Basquiat, and Picasso for just a fraction of the cost of an entire piece. 

When Masterworks sells a painting, like the 16 it’s already sold, investors can get a return on their investment. With 3 recent sales, Masterworks investors realized net annualized returns of 17.8%, 21.5% and 27.3%*.

Every offering is limited, and shares can sell out in just minutes, but Web3 Daily readers can skip the waitlist with this exclusive link.

^{*Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd}

🔪 Let's dissect this:

Solana-Style Transaction Fees, on Ethereum? Yes Please.

In one sentence: Celo is on a path to becoming the ‘Visa/Mastercard’ of stablecoin payments, making them cheap, accessible, and hands-off (across all major chains).

$USDT is launching on Celo — which may feel like déjà vu, cause $USDC launched there just two weeks ago.

Here’s why we’re weirdly intrigued by something as boring as stablecoin integrations:

It looks like Celo is trying to become the Visa (or Mastercard) of stablecoin payments — i.e. cheap, accessible, and hands-off.

Celo is designed specifically for fast and low-cost payments on Ethereum (them and every other layer 2 out there).

So many folks are working on it, cause right now, if you buy something using $USDT via the main Ethereum network – you’re going to be paying a criminal amount of transaction fees.

Think: anywhere between $50 and $500.

If you did the same thing via Celo, you’d pay around $0.001 for that same transaction, regardless of ETH’s price - in fact, it’ll do it for you across any $USDT friendly blockchain (like Tron, Solana, Avalanche and Omni).

“Cool, so, is this gonna affect me??” — you, probably.

Yeah, it probs will.

If you use crypto, you and Celo (or something like it) will eventually cross paths.

Cause if crypto is going to catch on as a universal payment method — the most common form will be some kind of stablecoin.

A network like Celo essentially says to consumers:

“We don’t care what kind of stablecoin you’re holding, or which blockchain you’re trying to send it across — we’ll make sure it gets to where it needs to go, regardless.”

(Which is a standard in fiat debit/credit payments, that crypto is yet to meet).

Noice!

Gas Fees, Explained.