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  1. #11
    Player
    ItMe's Avatar
    Join Date
    Jun 2020
    Location
    Lumsa Lomsa
    Posts
    4,178
    Character
    Iiiiiiiiiiit's Meeeee
    World
    Sargatanas
    Main Class
    Arcanist Lv 90
    Quote Originally Posted by Mysticp View Post
    No worries, to be honest it is all very complicated and depends on the chain. Most NFT's are on ETH which is proof of work at the moment but transitioning to proof of stake later this year. This will significantly reduce the very small impact nft's have even further. I believe the Verge did an article on this not too far back.
    The only The Verge article I could find on the subject (NFTs ecological impact) was this one, which is from last March and focuses on NFTs in marketplaces where people buy them with Etherium:

    THE CLIMATE CONTROVERSY SWIRLING AROUND NFTS
    https://www.theverge.com/2021/3/15/2...climate-change

    Is there a more recent article you were thinking of? Have there been updates? Because this one is def pretty damning.

    But for now, there are still greenhouse gas emissions associated with his NFTs. It costs about $5,000 to offset the emissions from one of his collections, he says.
    Take “Space Cat,” an NFT that’s basically a GIF of a cat in a rocket heading to the Moon. Space Cat’s carbon footprint is equivalent to an EU resident’s electricity usage for two months, according to the website cryptoart.wtf.
    The process is incredibly energy inefficient on purpose. The idea is that using up inordinate amounts of electricity — and probably paying a lot for it — makes it less profitable for someone to muck up the ledger.
    (3)
    Last edited by ItMe; 01-04-2022 at 03:04 PM.