Ethereum Merge Is Finally Happening

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What's Dropping ⚡️

• FTX aids Reddit with blockchain integration, allowing users of the popular discussion site to pay ETH gas fees with fiat when utilizing Community Points. (Blockworks)

• Applications are open for the Guarda Prepaid Visa card, which allows for worldwide transactions and ATM cash withdrawal. (Twitter)

• Polygon developers continue to bolster their infrastructure with the launch of Gnosis Bridge, which allows secure transfer of assets from ETH to Polygon.(Polygon)

• Magic Eden proposes the idea of an ApeCoin exclusive marketplace, positively stirring an already impressed community. (Decrypt)

• Metaverse land sales are making local news headlines, showing a rise of interest in the common consumer. (NBC News)

• Paris Hilton is expressing her love of the metaverse in her collaborative work with The Sandbox called Paris World. (Youtube)

• Jim Carrey just auctioned off his NFT art piece "Goon in the Moonlight" which is just as eccentric as he is. (SuperRare)

• Over the next eight months, Lamborghini will be hosting The Epic Road Trip, an extended drop of 32 remarkable NFTs. (Lamborghini)

Ethereum Merge Officially Official 🔥

The mainnet merge to proof of stake has been officially set for September 15-16th. This is a huge moment in not only NFTs but all of crypto. What does this mean?

This video is one of the best videos online that breaks down everything you could want to know about the Ethereum merge. I (Gannon writing here) have shown this video to countless friends and family and I advise you to watch it.

The TL,DR version

ETH 2.0 will do a host of updates that improves:

- transaction speeds will be outrageously faster- gas fees will be a fraction of the cost- Ethereum will be moved to a proof of stake instead of a proof of work. This means that there won't be any "mining" of Ethereum with graphics cards- Ethereum will become more secure and sustainable

Needless to say, this is one of, if not the biggest updates in the history of cryptocurrency and something Ethereum holders have been waiting years for. 

If you are confused about what Ethereum is in the first place I also usher you to read this guide to the basics of Ethereum that I created almost a year ago. You can read this breakdown here. 

 What Team Are You Picking? 🤔

NFT Marketplaces At War On Twitter 🤺

With the bear market in full swing, the market sentiment remains fixated around marketplaces. Which one should you use? Which one does more for their users? And with Magic Eden’s new Ethereum integration, that competition is growing more and more by the day.

OpenSea has been the industry leader, when it comes to marketplaces, for the majority of the time that people have been trading NFTs. But with recent failures by the marketplace to look into suspicious listings and delisting of projects with consistent volume, people in the space are looking for new ways to trade. OpenSea has proved that they don’t really care or look out for their users, thus causing this wave of traders to look elsewhere. Looksrare offers you tokens to list your NFTs on their marketplace. Gem.xyz lets you swiftly buy NFTs in bulk. But what does OpenSea provide?

With that in mind, people are slowly starting to come to the realization that the sole reason they use OpenSea is because of first to market advantage. It isn’t because they’re better or because they offer some sort of benefit. It’s just a habit at this point. With Magic Eden coming into the Ethereum playground, more and more people will look for substitutions for OpenSea. And with community engagement, Magic Eden is coming into Ethereum with multiple weapons at their disposal. Will they take the #1 spot? Or is OpenSea too monopolized to lose? WAGMI. 

Meme Drop 💧

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

Follow the team: 

Gannon Breslin, Kayla Kilbride, CryptoVonDoom, Naveed Lalani, Alex Reed, Naman Patel, Big Tuna

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