A Day Full Of Surprises

GM Readers!📪 It's BitDegree Insider, and it's time to unpack those web3 knowledge boxes.

⭐️Today's selection:

• 🎵News From Spotify
• 🔮Something BIG Is About To Happen
• 🧩️Thursday Quiz
• 👌Selected Meme of The Day
• 📰Bite-Sized News

🟢NEWS FROM SPOTIFY🟢

Yeah, those green bubbles make it look really exciting. Because it is!

Streaming platform Spotify has introduced a new service "token-enabled playlists".

We're talking about NFT-enabled playlists, folks.

It will allow music lovers to play music tracks recorded on the blockchain. As well as personalize the user's content based on his preferences.

Currently, only a selected group of NFT collections have access to this initiative, including Bored Ape Yacht Club, Gutter Cat Gang, and Pudgy Penguins.

However, Spotify plans to expand access to other collections in the future, so keep your eyes peeled.

The test phase of this project will take 3 months. After (and during it), Spotify will post updates, and insights about how things are working out.

Essentially, the whole thing is It's like owning a rare vinyl record, but better because it's digital. Okay, but... what's the big deal here?

For starters, owning one could be seen as a status symbol, similar to that one-of-a-kind t-shirt you got from that underground indie band before they sold out. 

A different way of expressing connection and loyalty to a particular artist.

And for all you crypto enthusiasts out there, this is a chance to merge your love for cryptocurrency with your passion for music.

Just imagine, you could be listening to your favorite playlist on Spotify and watching the value of the NFT-backed playlist increase on the blockchain at the same time.

Talk about multitasking!

Music NFTs also allow artists to earn a greater share of the profits from their music.

With traditional streaming platforms, artists often receive a tiny fraction of a cent for each stream of their music. Spotify is notorious for this. Ironically, they're providing a solution.

With NFTs, artists can sell music directly to fans and collectors, earning a greater percentage of the profits.

So, by purchasing an NFT-backed playlist, you're supporting your favorite artists and helping them make more money. 

Limited launches and extra benefits for particular NFT holders will also be implemented at one point in time.

For example, the first 1000 listeners of an NFT album NFT will get privileges. Stuff like meeting the artist and spending time with them in person. Endless opportunities here.

The question arises: why Spotify?

After all, if musicians have the ability to launch their own NFT-backed music and personalize content for fans, why rely on a third-party platform like Spotify?

But, as you may have guessed, not all musicians are tech-savvy enough to code and launch their own NFTs. And that's where services like Spotify come in. 

However, with the introduction of NFT-enabled playlists, musicians may have more leverage to negotiate with labels or even go independent, since they can sell their music directly to fans and collectors.

It's a new era of music sharing, and Spotify is just one player in the game.

TL;DR: Spotify presents a new service - NFT playlists. They call them 'Token enabled playlists'. It's a new way of tokenizing music, and letting people create stronger personal bonds with the artists they love. It's only in the testing stage, but it looks promising.

🔵🔴 SOMETHING BIG INCOMING 🔴🔵

Yeah, as you can tell.. Today we like these colorful bubble things. And, once again. For a reason.

These colors represent Coinbase and Optimism. Because crypto Twitter users have been scratching their heads for a while now. 

Because this is what Coinbase posted:

And here's what Optimism's followers (sounds poetic??) saw on their news feeds:

This could be nothing. Just another crypto flashmob, like the one where projects and startups started sharing fist bumping emojis. 

Or. This could be a hint at something awesome. That's about to be announced. Today. 

Of course, no one can be sure what to expect. But. Among many speculations, you could easily notice the word 'Arbitrum' being tossed around every now and then.

Arbitrum is a layer 2 blockchain designed to scale Ethereum, and it's been showing some promising results recently.

For example... Arbitrum just surpassed Ethereum in daily transactions.

Arbitrum's total value locked (TVL) has grown to almost $4 billion, indicating a growing trust in the platform.

But... Arbitrum does not even have its own token. 

This network uses the familiar ETH to pay commissions because Arbitrum runs on top of Ethereum and is fully compatible with Ethereum Virtual Machine.

This means that developers can transfer any application from Ethereum to Arbitrum in a few minutes.

Arbitrum has emerged in 2 years as a top contender to address Ethereum's notorious network congestion and high transaction fees.

Though, It is noteworthy that at the end of last week, Arbitrum was still lagging behind its direct competitor - Optimism. Of course...

This could be explained that Optimism remained on top thanks to their airdrop.

Maybe... Arbitrum is about to issue their native token? That would explain Coinbase's tweet...

But not Optimism's. Things are complicated. The DeFi soup is always boiling.

We're about to find out the answer. Today.

TL;DR: Coinbase and Optimism posted strange, cryptic tweets. A major announcement may be posted today.

THURSDAY QUIZ

Today let's go with an easy one. You either know the answer... Or go on, do some investigation, and find out the correct answer!

Here's the question. What coin is this? 

What is this coin?

P.S. if you need a hint or two... you can go to our website, and find everything you need.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Historical Artifacts of Titanic will Be Minted as Non-Fungible Tokens (NFTs). People would definitely buy that drawing by Jack.
• Gate Group Founder Han Lin Reveals the Firm's Plans to Enter Hong Kong. Expanding the territory.
• Google Cloud Team Up With Tezos to Boost the Development of Web3 Applications. Sky (clouds) is the limit.