Welcome back to another edition of SCISOC's fortnightly newsletter PRISM! Today, we bring the announcement of some exciting new events that we have lined up in the near future in our SCISOC Report, so get excited! In our Science News, we discuss the up and coming technology of NFTs, and the potentially devastating environmental impact they bring along with them. Finally, we discuss four different locations that might be worth visiting during the holidays, especially with the expiry date of our Dine and Discover vouchers approaching soon. Sit back, enjoy the read, and SCISOC wishes you a relaxing and fruitful term break!

SCISOC YouTube Channel

We're proud to announce that we've finally published our first video on our new official YouTube Channel! In this video, we introduce all the members of the SCISOC Committee!

Remember to like our video and subscribe to our channel for future videos, where we'll feature event re-caps, behind-the-scenes footage, guides to uni, and much more! It's free, easy to do, and you can unsubscribe at any time, so why not?

SCISOC Study Sesh

The UNSW SCISOC Study Sesh held in Week 10 was a major success! Thanks for attending the session on Discord in April and for studying hard (or hardly studying...) with us on the SCISOC Playground server!

SCISOC x CSESOC Sports Day

In collaboration with CSESOC, we’ll be running a Sports Day during the middle of Term 2 so get ready to get physical and competitive as there will be a variety of activities you can participate in! Come to spectate or play and bring some friends along for a great time with the society!

Location: TBA

When: Term 2

SCISOC x CSESOC Cruise Event

For our upcoming cruise, we’ll also be partnering up with CSESOC to bring everyone a night of fun in Term 2 on the water! It will be a-boat load of fun so keep your eyes peeled for any updates by liking our SCISOC page on Facebook.

Location: TBA

When: Term 2

"The NFT market has grown,
As eight-figure auctions have shown.
The overall price is
A worse climate crisis
For art you pretend that you own."

- Limericking

Are you willing to spend millions of dollars on a piece of art that doesn't even exist in the real world?

For many people, the answer is yes.

NFT is short for ‘Non-Fungible token’. Non-fungible means that it cannot be exchanged or substituted with similar assets of the same value; basically, it is unique. Bitcoins, for example, are fungible. You can trade it for another Bitcoin and it will still be the same.

NFTs are a type of digital asset, a tradeable, digital ownership certificate, that is authenticated through blockchain networks holding records of the underlying data. It has mostly been used for virtual art sales and a myriad of both physical and digital goods.

So why are people willing to spend millions of dollars on NFTs?

NFTs are a part of the Ethereum blockchain - essentially a digital ledger - meaning that virtual art can be authenticated as "limited editions" and so it becomes collectable, although it can easily be reproduced. Thus, people collect limited editions with the intention that not everyone who wants it can own one. Although digital assets can be reproduced, NFTs hold out the promise of owning something unique.

Examples of the skyrocketing price for NFT include Canadian Musician Grimes’ NFT artwork collection that sold for $5.8 million, and a GIF of the rainbow Nyan Cat meme sold for more than $500,000.

The surge in popularity of NFT’s has created concerns over its significant environmental impact as its already high energy usage is expected to exponentially increase in the coming years. The process of minting - creating a single NFT on Ethereum - consumes approximately 332 kW h and further selling, bidding and transferring the NFT require more energy.

To put it into perspective, a single Ethereum transaction consumes more than 70.32 kW h which is enough to power an average American household for 2.5 days! The current process of adding to the Ethereum blockchain, or mining is based on a Proof of Work system which is very inefficient because millions of miners compute the same transaction and thus is highly wasteful.

In the near future, it is important for collectors, developers, artists and investors to collaborate and move to a more sustainable alternative than the Ethereum blockchain which relies on proof of work. Just because NFT’s leave a large carbon footprint currently, doesn’t mean they should be ruled out completely because, with a concerted effort, new technologies are sure to be developed in the next 5-10 years that will minimise emissions.

Now counting on the environmental cost, how much would you pay to own a piece of art that doesn't exist in the real world?

It should be a surprise to no one whatsoever that the majority of uni students are flat broke and with the looming expiry of Dine and Discover vouchers, many are reverting back to their comfort instant noodles. Thankfully, the SCISOC publications team have prepared a couple of restaurants and activities around the city that are easy on the wallet whilst maintaining high-quality dining and entertainment.

Mappen Noodle Restaurant

SkyView Shopping Plaza, CBD

Mappen is a simplistic and compact, traditional-styled Japanese restaurant that presents a laid-back atmosphere which is great for a quick meal. Their menu consists of many traditional Japanese dishes and offers them in great quality with little fault.

Whilst there is nothing fancy about the dishes or the restaurant itself, their quick service in preparing dishes and short queue times more than make up for it. They offer quick light meals from anywhere between $5 to $12 but I personally recommend the Takoyaki and Chicken Katsu or the set deal for $10.20 for your choice of three dishes.

Friggitoria

12 Bayswater Rd | Shop 6, Potts Point, Sydney

Friggitoria offers some of the best and most popular variety of Italian street food there is in Sydney. From anything between something bite-size or a normal meal, it is hard to go wrong with this restaurant.

Their staff and customer service are super friendly and quick and some meals come in crinkled, clean newspapers which provide an authentic atmosphere to the customer’s dining. They have $5 cherry tomato risotto-filled mozzarella balls as snacks to $8 Aracinis with the pasta selection ranging in price from $14 to $18.

Sydney Obeservatory Hill Park

Upper Fort St, Millers Point, Sydney

Are you lost on where to go for your next group outing but y’all are on an extremely tight budget? Do you want to make a special cute night for your significant other but just simply don’t have enough? Well, we've got you covered - Sydney Observatory Hill Park!

During the day, you can set yourself up a little wholesome picnic with your friends with your own homemade fairy bread and cute cut-up fruits! The place also offers good vibes at night; just turn up the volume on your UE Boom and enjoy some late-night deep talks - for FREE!

The Standard Bowl

3/383 Bourke St, Darlinghurst

Are you perhaps more of an indoor bowling type? Then The Standard is the place to be! The alley is outfitted with lanes, pinball machines and pool tables as well as free live music and a side bar open till 3 am.

Although the usual prices might be a bit on the hefty side, what sets this bowling alley apart from the others is their discounts and offers. Keep an eye peeled for free bowling lanes and free drinks to invite your mates to.

UNSW Science Society is proud to announce our continued partnership with GradReady through 2021. GradReady provides GAMSAT Preparation courses for anyone looking to pursue Medicine after they graduate.
This process starts earlier than you think, so if you’re studying medical science or just have that passion, check out what they have to offer!

This student Club publication is proudly supported by Arc. For more information about Arc Clubs, visit www.arc.unsw.edu.au.