Weekend Updates — 07.05.2022
We’re helping you catch the best stories in cryptocurrency over the past week so you can stay well informed.
Web 3 IRL: Seattle’s CafeDAO Tests Brick-and-Mortar DAO Model
TL;DR: A coffee shop made up of a community of crypto enthusiast and investors, TheCafeDAO, has opened a pop-up coffee stand. The DAO markets itself as “the cafe everyone owns,” with customers and employees being given “coffee tokens” that grant governance rights and discounts with each purchase. The tokens themselves are still in an alpha stage and have yet to be connected to any blockchain, with the DAO using last weekend’s pop-up as a trial run for the tokenomics.
📰 Full article:
https://www.coindesk.com/business/2022/05/06/web-3-irl-seattles-cafedao-tests-brick-and-mortar-dao-model/
What Is Happening to the People Falling for Crypto and NFTs — Opinion
TL;DR: The article is about the latest incarnation of colossal crypto grifts that continue to engulf the internet. It talks about how people are going ape for what are essentially primate Pokemons and how you might be wondering what the apes do and why people are paying so much for legally uncertain claims to them.
📰 Full article:
https://www.nytimes.com/2022/05/05/opinion/crypto-nfts-web3.html
Argentina’s largest two banks to allow crypto trading
TL;DR: Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, have announced that they will allow customers to make crypto purchases.
📰 Full article:
https://cointelegraph.com/news/argentina-s-largest-two-banks-to-allow-crypto-trading
Yuga Labs Sees $561 Million in Otherside Ethereum NFT Sales Within 24 Hours
TL;DR: Yuga Labs launched the Otherside metaverse game and its first token, Otherdeed, which is a key for claiming land in the game. Otherside went live Saturday night, but clogged up Ethereum’s mainnet due to high demand during the “gas war” that followed.
📰 Full article:
https://decrypt.co/99156/yuga-labs-sees-561-million-in-otherside-ethereum-nft-sales-within-24-hours
Crypto sustainability: How to identify the right eco-friendly coins
TL;DR: Saying any cryptocurrency is greener than others is an incredibly complicated task since several parameters are to be considered. Many smaller cryptocurrencies inherently have a far lower energy footprint because they involve far fewer daily transactions compared to Bitcoin or any other major crypto. When scaled, they could prove just as disastrous for the environment.
📰 Full article:
https://indianexpress.com/article/technology/crypto/crypto-sustainability-how-to-identify-the-right-eco-friendly-coins-7905458/
