Latest In Metaverse, Web3, and NFTs

Hello, and welcome to the latest edition of my weekly newsletter, where I bring you updates on the latest happenings in the world of Metaverse, Web3, and NFTs.?

In this edition, I cover major updates on Ethereum's latest network upgrade, a partnership between MetaMask and Unity, and the release of the beta version of Shibarium blockchain.

So without further ado, let’s get started!

ETH’s much awaited network upgrade

Ethereum's much-awaited network upgrade, Shapella, is set to be launched soon. The upgrade includes two major upgrades, Shanghai and Capella, which enable stakers to withdraw their rewards and initial node collateral. This is a significant change as Ethereum's validator count, which increased by 6% over the past 30 days, had been on the rise due to existing stakers' inability to exit the validator set. The network's successful transition from Proof of Work to Proof of Stake has reduced energy consumption by 99.95% and ETH issuance by 88%, making it more sustainable.

MetaMask partners with Unity

MetaMask has partnered with Unity to provide web3 wallet functionality to game developers. The MetaMask SDK has been added to Unity's asset store, enabling developers to connect their games to MetaMask wallets and implement web3 features such as crypto and NFTs. The partnership also includes the Sidequest program, which offers grants and workshops to game developers interested in transitioning to web3 technology.

Shiba Inu developers to release metaverse and gaming-focused blockchain

Shibarium, a layer 2 blockchain developed by Shiba Inu, is set to release its beta version this week. Layer 2 refers to a set of off-chain systems that are built on top of layer 1 protocols to reduce bottlenecks in scaling and data. Shibarium's focus is on metaverse and gaming applications, with the goal of providing a cheap settlement for decentralized applications built on the network. The launch could contribute to strong fundamentals for Shiba Inu, which was formed as a memecoin but has since attempted to position itself as a serious project with its own blockchain network and dapp ecosystem.

Binance.US Given Green Light to Acquire Voyager Digital's Assets

Binance.US has moved closer to acquiring the assets of crypto lender Voyager Digital for over $1 billion after a bankruptcy judge in the Southern District of New York ruled in favor of the proposed acquisition. The plan was supported by 97% of Voyager creditors who responded to the proposal. However, regulatory hurdles still need to be cleared before the deal is finalized. During the hearing, various parties and regulators raised concerns about the deal, including whether personal data would be shared with Binance.US, and how to deal with customers in states where Binance.US cannot operate. The judge ultimately ruled that many of these objections did not make a strong argument or would have unnecessarily bogged down proceedings. Voyager's VGX token surged over 8% following the ruling.