Gucci Reveals Metaverse Tie-Up With Bored Ape Creator Yuga Labs

Daily Market Wrap

• Crypto market cap: USD 1.13T, down 2.36%
• BTC price stands at? USD 27,079.03, down 2.83%
• ETH price stands at? USD 1,717.36, down 2.73%
• Top gainer: XRP(XRP), up 7.51%
• Top loser: Arbitrum(ARB), down 11.87%

News of the Day

Gucci Reveals Metaverse Tie-Up With Bored Ape Creator Yuga Labs

Why it matters:

• Gucci is partnering with Yuga Labs, the developer behind Bored Ape Yacht Club, to launch a metaverse project is significant for several reasons. First, it demonstrates the growing interest of luxury brands in the metaverse and NFTs. This move follows other luxury brands such as Louis Vuitton and Prada who have also entered the space.
• The collaboration between Gucci and Yuga Labs could bring more mainstream attention to the world of NFTs and the metaverse. This could lead to increased adoption and wider recognition of the potential value of digital assets.
• This partnership highlights the potential of NFTs and the metaverse to offer new opportunities for brand engagement and revenue streams. By creating unique digital assets and experiences, brands like Gucci can deepen their relationship with their customers and explore alternative methods of monetization.

Crypto Daily Spotlight

??Polygon’s ‘holy grail’ Ethereum-scaling zkEVM beta hits mainnet

Brief introduction: zkEVM, also known as ZK-rollup Optimistic Virtual Machine, is a Layer 2 scaling solution developed by Polygon (formerly Matic Network) for the Ethereum network. It is based on zero-knowledge proofs (ZKPs), a cryptographic technique that enables high-speed and secure transactions while maintaining the decentralization of the network.

Why it matters:

• Polygon's ZK-EVM beta hitting the mainnet is significant for the Ethereum ecosystem and the broader blockchain industry. This development is a major milestone in solving the scalability issues in Ethereum, which have long been a bottleneck for the network's growth and adoption.
• Polygon's ZK-EVM is a new solution that leverages zero-knowledge proofs (ZKPs) to enable high-speed transactions while maintaining the security and decentralization of the Ethereum network. With this technology, developers can build dApps that are faster, more secure, and more cost-efficient than the current Ethereum network.
• The deployment of ZK-EVM on the Polygon mainnet is an important step towards achieving mass adoption of decentralized applications on Ethereum. This development will make it easier for developers to create and deploy dApps with fast transaction speeds, lower gas fees, and improved user experience.

Daily Sector Tracker

Daily News Roundup

1. MakerDAO passes new ‘constitution’ to formalize governance process
2. Binance CEO CZ rejects allegations of market manipulation
3. Bitcoin ATM maker to refund customers impacted by zero-day hack
4. Metaverse Fashion Week 2023 Goes Multi-Platform in Push for Interoperability
5. Vitalik Buterin Sends Hidden Message in First Polygon zkEVM Transaction

About Aspen Digital?

Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.

For more information, visit https://www.aspendigital.co/?

Sign Up on Aspen Digital

If you would like to know more, please sign up here.