NFTs are becoming more common as web technology becomes more prevalent. If your brand has a good following, you’re probably curious about how to leverage NFTs. However, these tokens have a reputation for contributing to emissions that impact the environment.
This reputation has prompted some backlash from consumers. For example, the introduction of NFTs in the K-pop world has already sparked outrage. So are NFTs bad for the environment? Are there clean ways to mine and sell NFTs?
If your brand is committed to the climate, you can’t just ignore the high energy consumption. But does that mean you have to give up NFTs? We explore how NFTs impact the environment and whether there are options.
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NFTs Bad For The Environment?
Regular ways for mining and verifying NFTs are indeed energy intensive. Most of today’s NFTs run blockchain based network notorious for its high power consumption. In these cases, NFTs harm the environment, yes. However, there are neutral blockchains on which NFT marketplaces can be built. These work differently and consume less energy. If you use such an NFT place, NFTs can therefore be largely safe.
NFTs are not the emissions-intensive innovations they are often portrayed as. It all depends on the innovation underlying their transactions. By using this, any brand can mint, sell and resell NFTs without violating their procedures.
Green Crypto Development Gives Hope
It is therefore worth taking a closer look, not only when selecting the NFT model, but also when selecting the underlying innovation. Crypto is still exciting to watch, an early entry is still worthwhile and the green crypto developments in particular give hope for a sustainable development of digitization.
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