NFTs + environmental sustainability 🌱

This year we celebrated Earth Day by uncovering the truth about NFTs and environmental sustainability and separating fact from fiction.

April 27, 2023

NFTs and environmental sustainability | The RECURring Times

In the spotlight

NFTs and environmental sustainability 🌱

This year we celebrated Earth Day by uncovering the truth about NFTs and environmental sustainability and separating fact from fiction.

As NFTs continue to soar in popularity, their environmental implications have been heavily scrutinized. But how do NFTs work exactly and what is their connection to the environment? 

Historically, many blockchains (the technology underpinning NFTs) have relied on energy-intensive consensus mechanisms called Proof of Work (PoW). However, as blockchains transition to or are built with Proof-of-Stake (PoS) mechanisms, their energy consumption and environmental impact reduce significantly. 

But that’s not the only move towards sustainability. 

An increasing number of NFT marketplaces and platforms are adopting sustainable practices, like using eco-friendly blockchains, implementing carbon-offsetting initiatives, or donating a portion of profits to environmental causes. 

And educating and empowering artists and collectors is another crucial piece of this puzzle. By providing resources and tools to calculate and help reduce the carbon footprint of their NFTs, platforms can help users make more informed decisions about their environmental impact.

Click through to learn more 👇

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The bulletin board

Pitfalls ahead for Heads of Web3

The possibilities of web3 are limitless, but integrating it into a company’s strategy is no easy feat. 

That’s where Heads of Web3 come in.

But while they have the potential for large impact, these Heads also face a unique set of challenges that require a deep understanding of… 

🛠️ Technical challenges

⚖️ Complex legal and regulatory landscapes 

🧗‍♀️ Cultural and strategy shifts 

👩‍💻 Identifying and securing the best talent

And without the right partner, it can feel almost impossible to succeed.

Forging the future of digital experiences

As the digital landscape evolves, two terms have piqued curiosity and excitement from tech enthusiasts and visionaries alike: web3 and the metaverse.

While they do have similarities and overlaps, they are inherently different. 

Take web3. It’s essentially the next generation of the internet and aspires to create a more equitable and user-centric digital ecosystem. By harnessing the power of blockchain technology, smart contracts, and decentralized applications (dApps), web3 seeks to transform the internet as we know it. 

The metaverse on the other hand, is a collective of virtual shared spaces that promises a fully immersive environment where users can interact, create, and explore. 

But it doesn’t end there. Continue exploring the relationship between these two concepts

Trivia Thursdays: Test your web3 knowledge

Put your web3 knowledge to the test with this week's Trivia Thursday.

What is decentralization?

  1. An open, programmable smart contract platform for dApps that is known for its fast transaction speeds, low fees, and customizable subnets.
  2. A means of giving power, control, and authority back to the user, creating a more resilient, transparent, and democratic online environment.
  3. A financial system built on blockchain technology, enabling peer-to-peer transactions without the need for intermediaries.
  4. A virtual world, often built on blockchain technology, where users can interact, create, and own virtual assets.

Check out the answer at the bottom of this email, and get ready for next week by reading up on the latest from RECUR.

TL;DR

Your three-bullet summary of happenings from RECUR

Around web3

A look at web3 news stories of the week

There seems to be no shortage of web3 news lately. And sometimes, it can be hard to keep up.

Here are some that caught our eye. 👇

Feature of the week

Meltem Demirors, Chief Strategy Officer at CoinShares

This week’s feature is a woman who’s been in the web3 space long before it was called web3: Meltem Demirors.

As the Chief Strategy Officer at CoinShares, Meltem is helping to lead a full-service digital asset investment and trading group that delivers a broad range of financial services across investment management, trading, securities, and consumer products to a wide range of clients. 

As the CSO, Meltem plays a pivotal role in deciding what assets are invested in and how each transaction should be made. Under her guidance, the company now manages around a billion dollars in assets

Meltem began working professionally in web3 in 2015 and since then has grown to be one of the most visible personalities in the space. She even testified in front of the U.S. House Committee on Financial Services in July 2019 and was the co-chair of the cryptocurrency council at the World Economic Forum.

But don’t be fooled by the impressive and serious resume, Meltem’s Twitter is full of witty, pointed, and downright hilarious content. And we haven’t even begun discussing her NFT project… 

Wags from RE(P)URrrrr

Featuring the furry friends of RECUR employees.

Trivia Answer:

B. A means of giving power, control, and authority back to the user, creating a more resilient, transparent, and democratic online environment.

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