Coinbase, a leading cryptocurrency exchange, is set to launch its Ethereum scaling solution, Base, on August 9. Base is a layer-2 network built on Ethereum, and Coinbase will be the first publicly traded company to launch such a network. In preparation for the launch, Coinbase has partnered with mainstream brands like Coca-Cola and Atari to offer daily mints of on-chain collectibles as part of an initiative called "Onchain Summer."
Coca-Cola and Atari Onboarded Pre Base Launchย
Developers have been testing their applications on Base since July, and the public launch will see a series of events where creators and developers can make art or build applications on Base. Major companies, artists, and creators are participating in Onchain Summer, running on chain events to make crypto more accessible and engaging.
Celebrate Onchain Summer ๐ก with Coinbase
Meme Coin Mania On Base
Interestingly, a meme coin frenzy has already started on Base, with the BALD meme coin gaining significant attention and a $50 million market capitalization in less than six hours. This has impacted crypto traders, some of whom have made substantial gains. However, the one-directional movement of funds from Ethereum to Base could limit the ability of traders to realize their gains.
Onchain Summer
Despite potential challenges, the launch of Base and the Onchain Summer celebration could bring a new level of excitement to the crypto community, attracting new users and developers. The upcoming events represent a significant milestone in the crypto community, with substantial opportunities for engagement, creativity, and financial gains.