Go outside #7: NFTs ARE DEAD! Impact Era Starts Now…
You heard it here first: NFTs are dead!! And big news announced by Celo
Welcome to the 260+ STEWARD Community! Join a group of smart, curious stewards by subscribing here:
Have you been outside today?
Climate Report:
History on repeat: wildfires in Greece, Algeria, Turkey, Spain & California
(as oil giant Shell announces their *quarterly* profits of over $5 BILLION)
btw this is Greece (the chaparral ecosystem) from space:
Founders Intro:
You heard it here first: NFTs are dead!!
An 88% drop in the trading volume on non-fungible token platforms
An 80% drop in the value of non-fungible tokens
Fall in the “Bored Ape Yacht Club” market cap by $2 billion
And we called this from the beginning! The non-fungible token (NFT) market was overvalued and inflated which led to market saturation. NFTs value was fueled by hype, not actual value. And don’t forget that from real currency to crypto, it’s all free-floating currency or monopoly money, measurable only by comparing it to other world currencies (the USD hasn’t been backed by gold since 1971).
But wait, isn’t STEWARD a NFT project?
Well, if you want to get into semantics. Technically, yes.
Fundamentally, STEWARD is so much more, hence we have never called ourselves a NFT project.
We are NFTs in the sense that we use web3 principles of decentralized ownership to transfer ongoing funds to 8 climate organizations working in conservation and Indigenous solutions. We could manually do this on Web2 but this would be energy consuming and STEWARD also exists to usher in the impact era of Web3.
We are in this incredible transition from profile picture NFTs (think Bored Ape Yacht Club or crypto punks) to impact NFTs where the utility of blockchain is actually being optimized for, impact, duh.
PFPs (profile picture) NFTs breeded exclusivity, hierarchy, status-- the antithesis of what Web3 was meant to stand for. STEWARD and other impact collections have utility beyond the artwork, from funding nonprofits to rewarding users. While always ensuring artists and creators can have ownership over their work.
And beyond direct impact, the future of NFTs have so many real world applications as it’s a digital id for real-world assets. The use cases range from digital identity verification, supply chain management, DeFi, virtual real estate, intellectual property rights, gaming, and the music and entertainment industry.
OK so NFTs are not dead, but evolving. It’s taken us over 15 months to build STEWARD and we’re so glad we waited to launch to usher in the impact era, especially after the bad apples have been booted out.
One Home,
Steward Sophia & Steward David
What’s going on in Climate 3.0?
Celo officially launched their exciting move to become a L2 network on Ethereum, expanding their access and scaling the impact of Celo’s mission-driven community.
Crypto is making big strides to be more user-friendly, efficient, and affordable - becoming easier than ever for individuals and businesses to unlock its potential (like scaling climate impact)!
Steward Spotlight:
Our steward of the week is our very own Eco-Ambassador of the Ocean, Earn Kongkerdlap! Earn is a youth climate activist based in Thailand, and the founder of OverturnedOceans. OverturnedOceans unites volunteers from around the world for beach clean-ups, partners with organizations to further marine research, and works with the fishing community of Thailand to develop sustainable and cost effective fishing nets.
Lucky links:
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Want to become a STEWARD?
1. have a digital wallet (we recommend metamask)
2. join and share this Substack community
3. get ready to buy a piece of digital art on mint day August 16th!