{"id":45846,"date":"2022-02-09T14:55:27","date_gmt":"2022-02-09T14:55:27","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=45846"},"modified":"2022-02-09T14:55:27","modified_gmt":"2022-02-09T14:55:27","slug":"wwf-uk-ends-sale-nfts-backlash-angering-crypto-community","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2022\/02\/09\/wwf-uk-ends-sale-nfts-backlash-angering-crypto-community\/","title":{"rendered":"WWF-UK ends sale of NFTs after backlash, angering the crypto community"},"content":{"rendered":"<p><strong>WWF-UK quietly cancelled the sale of non-fungible tokens (NFTs) to raise funds for its conservation work less than 48 hours after they were launched.<\/strong><\/p>\n<p><a href=\"https:\/\/www.climatechangenews.com\/2022\/02\/02\/wwf-uk-faces-backlash-plan-sell-nfts-fund-conservation-work\/\" target=\"_blank\" rel=\"noopener\">Following a huge backlash<\/a>, in <a href=\"https:\/\/www.wwf.org.uk\/updates\/nft-statement\">a brief statement<\/a> published on its website Friday evening, the charity said it had agreed to bring the trial to a close and thanked those who had purchased the tokens.<\/p>\n<p>\u201cWe recognise that NFTs are a much debated issue and we all have lots to learn about this new market, which is why we will now fully assess the impact of this trial and reflect on how we can best continue to innovate to engage our supporters,\u201d it said.<\/p>\n<p>The U-turn followed an outpouring of criticism on Twitter when the green group announced it was planning to mint NFTs representing 13 of the world\u2019s most endangered animals and sell them on an \u201ceco-friendly\u201d blockchain.<\/p>\n<p>Traditional conservation supporters reacted furiously, citing the emissions associated with generating NFTs. Many said they had <a href=\"https:\/\/twitter.com\/cwiiis\/status\/1489762641564340224\" target=\"_blank\" rel=\"noopener\">cancelled their monthly donations<\/a>.<\/p>\n<p>But WWF-UK\u2019s sudden halt of the NFT sale has now drawn criticism from the crypto community who backed the project.<\/p>\n<p>\u201cI&#8217;m still impressed [at] how they manage[d] to piss off environmentalist[s] and NFT enthusiast[s] at the same time,\u201d one of the artists who designed NFTs <a href=\"https:\/\/twitter.com\/TedsLittleDream\/status\/1489695650723688449?s=20&amp;t=mnKHeX8jT1zevjO2-aLFvg\" target=\"_blank\" rel=\"noopener\">wrote on Twitter<\/a>.<\/p>\n<div id=\"mc_embed_signup\">\n<form id=\"mc-embedded-subscribe-form\" class=\"validate\" action=\"https:\/\/climatehomenews.us1.list-manage.com\/subscribe\/post?u=6316d25f7b68919349e54a251&amp;id=bf939f9418\" method=\"post\" name=\"mc-embedded-subscribe-form\" novalidate=\"\" target=\"_blank\">\n<div id=\"mc_embed_signup_scroll\">\n<blockquote><p><label for=\"mce-EMAIL\">Want climate news in your inbox? Sign up for free to get our weekly newsletter and occasional extra bulletins<\/label><input id=\"mce-EMAIL\" class=\"email\" name=\"EMAIL\" required=\"\" type=\"email\" value=\"\" placeholder=\"your email address\" \/><\/p>\n<div style=\"position: absolute; left: -5000px;\" aria-hidden=\"true\"><input tabindex=\"-1\" name=\"b_6316d25f7b68919349e54a251_bf939f9418\" type=\"text\" value=\"\" \/><\/div>\n<div class=\"clear\"><input id=\"mc-embedded-subscribe\" class=\"button\" name=\"subscribe\" type=\"submit\" value=\"Subscribe to Climate Weekly\" \/><\/div>\n<\/blockquote>\n<\/div>\n<\/form>\n<\/div>\n<p>During the two days the initiative lasted, WWF-UK sold <a href=\"https:\/\/www.nft-stats.com\/collection\/tokens-for-nature\" target=\"_blank\" rel=\"noopener\">174 &#8220;tokens for nature&#8221;<\/a>\u00a0for a total of $46,600. The biggest sale was a digital representation of a Tapanuli orangutan, which went for nearly $2,700.<\/p>\n<p>WWF-UK, which <a href=\"https:\/\/www.wwf.org.uk\/updates\/nft-statement\/experiences\">deleted the pages<\/a> dedicated to the initiative from its website, offered refunds to anyone who bought the NFTs through official WWF channels. Purchases made on the secondary market are not refundable.<\/p>\n<p>Those willing to keep the tokens remain eligible for rewards, including tickets to WWF events, and the proceeds will fund conservation work.<\/p>\n<p>Buyers on the messaging app Discord expressed their dismay at the turn of events. \u00a0After learning the scheme was suddenly halted on Friday evening, they were left in the dark about the implications over the weekend, describing the situation as \u201ca disaster\u201d, \u201ca horrible experience\u201d and the \u201cworst NFT project ever\u201d.<\/p>\n<p>\u201cUnbelievable we got rugged by one of the world&#8217;s leading conservation [charities],\u201d wrote user RT21. In the crypto world, &#8220;rugging&#8221; <a href=\"https:\/\/www.ledger.com\/academy\/the-ultimate-nft-glossary#:~:text=In%20the%20NFT%20space%20too,paid%20for)%20goes%20to%20zero.\" target=\"_blank\" rel=\"noopener\">means<\/a> abandoning a project after people have bought into it.<\/p>\n<blockquote><p><a href=\"https:\/\/www.climatechangenews.com\/2022\/02\/04\/total-pushes-ahead-uganda-oil-project-stays-silent-financial-backers\/\" target=\"_blank\" rel=\"noopener\"><strong>Total<\/strong> pushes ahead with Uganda oil project, stays silent on financial backers<\/a><\/p><\/blockquote>\n<p>Many demanded a refund. \u201cThe charity chose to discontinue the NFTs because of environmental concern. Why should they keep the dirty money anyway,\u201d said Fyse. Others said their purchase was always intended as a donation.<\/p>\n<p>\u201cWe realise this isn\u2019t how you &#8211; or we &#8211; expected our drop to roll out,\u201d an administrator for the Discord channel told NFT holders on Monday.<\/p>\n<p>Most believed the charity gave in too quickly to \u201ca bunch of environmentalists\u201d who didn\u2019t understand the potential of NFTs in raising money and awareness of the climate and nature crisis.<\/p>\n<p>\u201cThis project could [have] raised a serious amount of funding for the WWF! Shame cancel culture have got their own way\u2026 the impact from less funding will be bigger than a bit of power. Well done idiots, hope you put your hand in your pockets and make up the loss from cancelling this project!,\u201d wrote one user.<\/p>\n<blockquote><p><a href=\"https:\/\/www.climatechangenews.com\/2022\/02\/06\/science-based-targets-initiative-accused-providing-platform-greenwashing\/\" target=\"_blank\" rel=\"noopener\"><strong>Science Based Targets<\/strong> initiative accused of providing a \u201cplatform for greenwashing\u201d<\/a><\/p><\/blockquote>\n<p>Part of the controversy focused on the carbon footprint of blockchain technology. WWF-UK minted its NFTs on a blockchain called Polygon, a new generation blockchain which uses a security test known as proof-of-stake that consumes much less energy than that of Ethereum or Bitcoin.<\/p>\n<p>Polygon is a side-chain of the Ethereum blockchain and depends on it to function. While Ethereum is planning to move to a proof-of-stake test, the network currently <a href=\"https:\/\/digiconomist.net\/ethereum-energy-consumption\/\">has a carbon footprint the size of Sweden.<\/a><\/p>\n<p>Johannes Sedlmeir, who researches electricity use in blockchain technology at German research centre FIM, told Climate Home that one could argue that Polygon is responsible for a share of Ethereum\u2019s electricity consumption \u2013 which WWF-UK didn\u2019t include in its calculations.<\/p>\n<p>But as Polygon advances less energy-intensive blockchains, Sedlmeir said that \u201cit is fair to say that it aims to be eco-friendly and will likely be in the foreseeable future\u201d.<\/p>\n<p>If Polygon attracts sufficient investments to replace energy-hungry blockchains, \u201cthen the project essentially contributes to more sustainable cryptocurrencies,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"The conservation charity cancelled its &#8220;tokens for nature&#8221; experiment within 48 hours, offering refunds to dismayed buyers","protected":false},"author":39,"featured_media":45848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3864],"tags":[],"coauthors":[4267],"class_list":["post-45846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nature","type-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WWF-UK ends sale of NFTs after backlash, angering the crypto community<\/title>\n<meta name=\"description\" content=\"The conservation charity cancelled its &quot;tokens for nature&quot; experiment within 48 hours, offering refunds to dismayed buyers\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Before joining Climate Home News, she worked for the investigative environmental outlet DeSmog UK and contributed to Business Green.","sameAs":["http:\/\/www.climatechangenews.com"],"url":"https:\/\/www.climatechangenews.com\/author\/chloe-farand\/"}]}},"_links":{"self":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts\/45846"}],"collection":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/comments?post=45846"}],"version-history":[{"count":1,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts\/45846\/revisions"}],"predecessor-version":[{"id":45852,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/posts\/45846\/revisions\/45852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/media\/45848"}],"wp:attachment":[{"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/media?parent=45846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/categories?post=45846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/tags?post=45846"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.climatechangenews.com\/wp-json\/wp\/v2\/coauthors?post=45846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}