NFTs, or non-fungible tokens, are digital collectibles that often come at a high cost, both to the investors and to the planet. But that is about to change as one company comes to the rescue to offset the environmental cost of NFTs.
What’s an NFT?
More or less, “non-fungible” means that the item is unique and cannot be replaced by another. A Bitcoin for example is fungible. You can trade it for another bitcoin and get exactly the same thing. However, a one-of-a kind trading card is not fungible. You would have something entirely different if you traded it for another card.
Goon and Lion NFT’s Destroying Earth?
“We can’t let the Goons of Balatron, or a bunch of Lazy Lions destroy our planet”, said an anonymous climate change proponent protesting outside of a large scale Ethereum mine in an undisclosed place where they were protesting.
As the popularity of NFTs has grown, so has the conversation about lessening the environmental impact of these types of blockchain assets. New blocks of information are added — or “mined” — to a decentralized blockchain network based on a process called proof-of-work, which requires expensive computer hardware that consumes a lot of power.
Activists around the world are concerned that these silly NFT’s are destroying the planet. One of the activists said they were just protesting because they are able to get out of work for anything to do with climate change, but said, “these tree huggers are so dumb, as if cartoons are going to destroy our world.”
Ultimate Green NFT
Several companies, including sustainability platform Aerial and music-centered platform Oneof, have recently launched initiatives to help offset the carbon footprint of minting NFTs. Last week, Real Nifty announced the launch of “The Ultimate Green NFT” aimed at helping reforestation efforts in southeastern Brazil.
Every user that purchases an NFT through the To Be Named Atlantic Rainforest project will fund the planting, growing and maintaining of native species in the Atlantic Forest region of Brazil. NFT holders will also have a plot of forest land named after them and will hold a 30-year license to the carbon credits.
Brazil is home to the largest rainforest in the world and is often called “the lungs of the planet.” The lush green landscapes are pivotal to helping combat climate change and controlling greenhouse gas emissions.
“This collaboration allows the cryptocurrency technology to not only offset but reverse its harm to the environment so that the net impact is positive for everyone,” said Real Nifty CEO Shi Wen Li in a press release.
Unfortunately it just looks like another form of division. NFT Lovers VS. Climate Change. If I was a betting woman, I would place everything on the NFT Lovers. Those are real communities with passion.