šFree Goblin NFTs bring excitement to bear market + š“Bringing Web3 tools to environmental issues
Gm 1WalletoorsĀ š
A shortage of stories in Web3? Donāt know her. But we do know how to make the most current stories related to crypto, NFTs, and other degen activities digestible. Here are this weekās spotlights:
šŗ Move over apes, itās time for Goblins: Take a look at these spooky, yet free, mints that have captivated the community
š“Bringing carbon credits to Web3: A new spin on blockchain technology to do good for the planetĀ
šØ Sweet Scoop: Letās talk about the environmental impact of cryptoĀ
š²1W Updates: Join us for our next movie night
9,999 goblins and my wallet doesnāt have one
šŗItās a goblins world and we are all just living in itĀ
NFTs arenāt dead, and we have just the collection to prove it. Goblintown, an NFT collection on the Ethereum blockchain, debuted late last month as an entirely free mint. It has since seen an increase of 458% in its floor value over the past week and around $22m in sales, leaving fellow degens mad at themselves for passing up the project at .05, 0.5, 1.0, etc. No influencer shilling, no marketing promotion, no roadmap, or Discord - just genuine interest from a community that shares a mutual interest in speaking in strange fonts. Today their Twitter account, which has 57K followers, hosted a Twitter space catered to those who understand Goblin communication style. Rumors that have added to the hype include the mysterious speculation that Yuga Labs (creators of Bored Apes) or heavy-NFT-degen DJ Steve Aoki is behind the collection. As a wise goblin once said, ādāy āāy dāy āįµ£ bįµ¢āādįµ¢ā
gābāįµ¢āā āįµ£ bįµ¢āādįµ¢ā dā bįµ¤įµ£gįµ£įµ£ā.... (We took that from their Twitter). Sooo anyone speak Goblin? Are comically ugly free mints the new wave?Ā Ā
Bullish or bearish on the āGoddess Nature Token?āĀ
šAll eyes are on the newest Web3 āClimate VentureāĀ
A16z, a top VC firm, and Adam Neumann, the ex-CEO of WeWork, are tackling climate change with Web3 tools. FlowCarbon raised 70 million in the recent rounds through VCs and a token sale of the āGoddess Nature Tokenā. Why Goddess Nature, you ask? Well, their goal is to bring carbon credits on-chain by making it possible for companies who want to reduce their carbon footprint to trade tokenized credits on exchanges. Critics have been extremely vocal, saying that this idea is inefficient and solving a āproblem that isnāt thereā because the issue isnāt that the carbon credits are getting lost, but that the carbon credits system is broken. Carbon offsets need to be taken off the market for them to have a lasting or traceable impact.Ā Ā
While FlowCarbon is in the spotlight as a carbon-addressing Web3 project and an (in)famous founder, they are not the only ones. .. 4C (The Cambridge Center for Carbon Credits) also aims to create a decentralized market place for carbon credits. Madhavapeddy, a professor from the University of Cambridge, aims to verify carbon credits are real by using satellite imagery to monitor and verify the legitimacy of carbon offset projects around the world.Ā Although this organization hasnāt proven successful yet, it appears to be more credible and transparent. And while we arenāt fortunetellers for which of these projects will be live through the bear, we do know climate change is an ever-pressing issueā¦.. Why not use blockchain capabilities to address it?
š£ Sweet Scoop: The environmental impact of cryptoĀ
Letās talk about cryptoās environmental impact: then and now. Crypto has been under fire in regards to its carbon footprint, especially the mining of Bitcoin. Fun but sad fact: If Bitcoin were a country, it would be in the top 30 energy users worldwide.Ā
Bitcoin and Ethereum currently use Proof-of-Work (PoW) systems, meaning people have to solve equations to mine (create) new tokens. In a Proof of Work system, everyone is fighting to solve the equations first to get a reward, and the person who wins tends to have the higher processing power. This incentives users to consume power to win at the expense of the environment. As the ecosystem grows, so does the negative energy impact.Ā
Thankfully, things are changing. Newer protocols like Harmony use Proof-of-Stake method (PoS), which heavily decreases energy consumption.Ā Ethereum is transitioning to this system, keeping its carbon footprint top of mind as the method requires a lot less computing power, and isnāt based on consuming the most energy. Instead, itās based on the amount of crypto that a validator āstaked,ā meaning agreed on to not trade or sell. When Ethereum transitions to PoS, itās estimated that itāll cut 99% of the energy it consumed prior.
Changes made so far show that Web3 is trying to build environmentally conscious ecosystems. And if Web3 can solve its own environmental problems, maybe it can help with solutions for the rest of the world too.Ā
š²1Wallet Updates
1Wallet is getting social not only on our own chat platform, but our Discord game is next level! We recently hosted a movie night, and are still hosting our weekly onboarding sessions to help new users navigate the world of 1Wallet. Our community is growing both in the wallet and on owned channels -so join the fun and catch some fun surprises along the way! Drop some product feedback in chat, Discord, send us memes on Twitter, and follow us onĀ TikTok.Ā
Stay tuned for exciting product updates coming soonā¦.
See you soon