Issue 40 🍵 The environmental elephant in the room

(🌳,🌳)

Disclaimer: This newsletter is not financial advice. We buy what we like, and you should buy what you like.

This is probably going to be a messy one, but it seems salient to try to bring up the whole environment issue.

This is partly driven by how every news we’ve shared the past few weeks about a Web2 company or artist going into Web3 has seen a response of an angry more. Like, how dare they, don’t they know crypto is polluting the environment?

If you even check the responses to the tweets in the Reading List today, whew. People are canceling their Discord Nitro subscriptions just because of a possible crypto integration.

(If it’s new to you: Investopedia breaks down the environmental cost of crypto simply enough.)

Caring about the environment is a valid issue, of course. But if the blockchain went away today, would it really change things?

We’ve still got a lot of things that would be polluting the planet. It feel strange that people aren’t trying to cancel oil companies with the same level of energy. People definitely aren’t shaming consumerist behavior as much as they shame artists for trying to make money.

Has anyone calculated the impact for what it costs for physical items to be made and then shipped across the world? Is it really worse for an artist to sell 1 NFT instead of having to produce and ship 1,000 paper globally?

It’s even more surreal to see all this happening at the same time as the UN Climate Change Conference in Glasgow. If you needed any reminder that the environment is a large and complicated systemic issue, not an individual one, you can watch the conference.

Who knows if you’ve been feeling guilty for the environmental impact of using the blockchain, but if you have: a gentle reminder that it’s all one big complex problem. It’s not going to be fixed by one person . . . unless it’s Elon Musk?

So yeah, don’t quite know how to conclude this. This is being sent a few minutes later than usual because it’s a struggle to even articulate all this. There’s no clear path. Like, who are we to tell you how to feel about the environment etc etc?

It feels a bit necessary to at least bring it up, though. It doesn’t hurt to be aware and mindful of the environment, so thus, the struggle to write this mess.

Have a good week, please don’t be wasteful on 11/11 or Black Friday, and if you’ve made spare money from crypto or NFTs this year, you can absolutely donate it to the environment if you like. (One Tree Planted is a decent place to start)

Other news

🌱 Axie Infinity announced the launch of their decentralized exchange, Katana. They’re also giving away 10% of their Ronin token $RON in the first month for liquidity providers on the exchange, which is a pretty good deal for a L1.

🌱 The agency of world-renowned K-pop group BTS has announced that they’re looking at selling photo card NFTs and developing video games. K-pop is finally getting into NFTs, whoop whoop.

🌱 For every Game Developers of Australia renouncing blockchain games, there’s a gaming studio like EA calling blockchain games “the future of our industry.”

Reading list

(Visual reading today!)

Twitter avatar for @sanchansSanchan S Saxena @sanchans
Recently, we announced Coinbase NFT marketplace (
coinbase.com/NFT/announce). And today, we wanted to share a sneak peak of the product and get your feedback. Here's a video of the onboarding flow for any user to connect and create their profile 👇

Creative corner

Daniel McKay, known as mobotato, is a 3D artist and motion graphics designer from New Zealand.

His skills means he end up making some really fun and enchanting NFTs. It’s a joy to just watch the loops of his work.

You can find more of Daniel’s work on Twitter or Artstation, and you can find his NFTs on Foundation and hic et nunc.

Try this

ENS Names are NFTs, so this totally counts for the newsletter: you should check if you have $ENS tokens to claim.

If you got a .eth name for your Ethereum address before October 31st, you can claim some $ENS tokens, which govern the different facets of the protocol. It’s also trading at $57, as of the time of this writing.

You can read more about the allocation and supply of the token here, and check and claim tokens here.

If you got any news or feedback to share, you can find us on Twitter. And if you like the newsletter, please, share it with a friend or two.

🍵 See you again next Wednesday! - Elle and Gian