Consider the following statements about the literary and cultural significance of the Rigveda:

1. The Rigveda, regarded as the oldest of the Vedas, was composed approximately 3500 years ago and contains a compilation of hymns and praises.
2. The hymns of the Rigveda, known as "suktas," were composed in an early form of Sanskrit, which is distinct from Classical Sanskrit.
3. The language of the Rigveda, used for these hymns, is referred to as Vedic Sanskrit, which differs from the more formalized Classical Sanskrit that developed later.