DEGN, the new hardware wallet that’s going to introduce “casual fun” to crypto, has touched down. Designed by Nikita Savenkov and Anna Makowska, it features cyberpunk aesthetics, biometric security, cold storage with handy additional utilities. Comparisons to Flipper Zero and Teenage Engineering are rampant. To be blunt, it’s gonna suck. So, are we really progressing crypto, or just applying a better user interface to old issues?

The first, and most apparent, attraction of DEGN is its aesthetic. The past experience Space is quite different from traditional hardware wallets, which can resemble your uncle’s server room circa 1994. DEGN, with its glowing screens and buttons, scrollwheel and atmosphere of darkly cyberpunk “dystopian future” all else considered is just way cooler. It aims at the young, the newly-rich and the digital savvy — truly the people who are turning their back on established financial principles.

Fun Design, Serious Problems?

Here's where my anxiety kicks in. Is this emphasis on aesthetics hiding some deeper problems? Crypto today remains a scam-filled, usability-dystopian hellscape where the average user faces an overwhelming learning curve. Does a shiny new interface address any of that? Or does it only lure more unsuspecting and untrained users into a potentially hostile environment? Yet again, are we choosing fun over security and education?

This is where I draw some deep parallels with the emergence of fast fashion. Chic clothing, eye-catching aesthetics, but more often than not it’s wrapped in exploitative labor practices and unsustainable fabric. Have we simply been polishing up DEGN, branding it as shiny and pretty? To promote real innovation in the long term, we need to address the deeper, messier problems with the crypto ecosystem.

DEGN isn't just a cold storage wallet. It further allows you to track, trade, and even mine cryptocurrencies from there. This is where my eyebrows become genuine alarm bells.

Mining and Trading? Really?

Let's talk about mining. The environmental cost of crypto mining has been the focus of heavy scrutiny already. Adding a mining feature to a hardware wallet is akin to Tesla adding an optional coal-rolling kit to their cars. Maybe for some, sure – but not without cost. Are we truly encouraging more people to engage in a process that is as evident as day and detrimental to our planet? All through the lens of “casual fun”? It feels incredibly irresponsible.

Really? Are we really ready to make hardware wallets glorified gambling machines? Crypto trading is risky enough without the bad actor Exchange-ation. Do we want to continue creating an on-ramp for Americans to lose their hard-earned cash? A handful of taps on a cyberpunk-inspired gizmo might open the door to serious calamity! It’s as irresponsible as handing a teenager the keys to a Ferrari and telling them, “Don’t go too fast!”

I'm getting serious anger vibes here. It just feels like somebody’s trying to gamify crypto. In the process of trying to make their products more addictive and appealing, they’re making our kids sicker. Just imagine those mobile games designed to pull you in and get you to spend money. Next, picture the same situation but with the stakes much higher.

DEGN is aimed at everyone who is open to questioning accepted financial conventions. Let’s face it—the crypto space has just become a different incarnation of Wall Street. It instead has come to include its own set of gatekeepers, power structures, and biases. Is it really disrupting anything, or just repackaging the same old system with a shinier wrapper?

Who Is This Really For?

Because the crypto world likes to promote its ecosystem as fully decentralized and available for everyone. The truth is usually much worse. The reality is that the vast majority of crypto wealth — just like traditional wealth — is concentrated in the hands of a very few. Other communities are as toxic with sexism as any toxic community. Is DEGN really helping create a more representative and fair crypto world? Or is it just a gilded cage for the elite? That’s the question we should be asking.

So when I look at DEGN, I see an enormous opportunity. The design is gorgeous, the functionality incredibly ambitious, and the team behind it clearly hugely talented. At the same time, what I’m seeing is a proven potential for harm. Unless we address the underlying issues within the crypto space – the security vulnerabilities, the environmental impact, the lack of inclusivity – a fancy hardware wallet is just a shiny distraction.

The success of DEGN will depend on more than how good it looks or how many cool features it has. It needs to show that it can lead the way for a responsible, sustainable, and equitable crypto future. Otherwise, it’s like every other passing fad. It’ll disappear as quickly as it came the moment some other “rad new toy” comes along. That would be a shame, indeed, as there is much promise for truly game-changing innovation. Of course, we just need to ensure we’re not building something that only gives away the benefits to those few, either.

Ultimately, the success of DEGN will depend not just on its aesthetics and features, but on its ability to contribute to a more responsible, sustainable, and equitable crypto future. Otherwise, it's just another fleeting trend, destined to fade away as soon as the next "rad new toy" comes along. And that would be a sad outcome, because the potential is there for something truly groundbreaking. We just need to make sure we're building something that benefits everyone, not just a select few.