Cryptocurrency is CO2 Capturing NFTs
Carbon footprints are becoming an increasingly popular concern for environmentalists, and cryptocurrencies have become one way to offset carbon emissions. However, while the NFT market is still in its infancy, environmentalists have been warning of rising global temperatures, sea level rise, the destruction of wetlands, and increasingly extreme weather events. Although the ecological cost of the NFT market is still unknown, digital artists are stepping forward to raise awareness. The artist Memo Akten, for example, has created a website that details the average CO2 footprint of an NFT. The Belgian artist Joanie Lemercier has also become an activist after learning about the impact of CO2 emissions on the planet.
One of the biggest benefits of NFTs is the reduction of greenhouse gas emissions. The art world has become incredibly conscious about carbon footprints. An edition of a work of art with a value of more than $69 million is estimated to have a CO2 footprint of over 10 tonnes. This is more than the average carbon footprint of a person living in the EU. A famous example of a successful artist who has profited from NFTs is Beeple. He pledged to make his artwork carbon neutral or even carbon negative. He then invested his gains into projects to combat climate change. Ultimately, NFTs are environmentally friendly.
What Cryptocurrency is CO2 Capturing NFTs?
CO2 emissions are not limited to just a few countries. The world’s top 100 companies account for 71% of global emissions. However, governments and corporations must act proactively and take steps to ensure that their actions do not undermine the efforts of the public. Consumer demand is increasing, which is a good thing for the environment. But we should not forget that the public has great power. By purchasing products made from sustainable materials, you’re indirectly helping the environment by reducing greenhouse gases.
Despite the rapid growth of NFTs, the CO2 footprint of NFTs is still too small to be accepted by all stakeholders. The open-source Open Earth Foundation, a non-profit organization that works on climate issues, helps Beeple calculate its carbon footprint. They use data from a variety of sources to calculate the carbon footprint of a product. To offset its CO2 emissions, the company will also provide a carbon standard registry for NFTs. These are projects that reduce emissions elsewhere. For example, Creol NFTs are tied to a reforestation project in Peru. REDD is a program that aims to fight climate change.
Despite the lack of widespread adoption, there is an ongoing campaign to decarbonise large industries and society. These efforts are accompanied by activism and new technologies. Individuals can do their part to help make the world a better place. These projects are a good starting point for developing a CO2 emission neutral economy. What cryptocurrency is CO2 capturing NFT? ? What Currency is CO2 capturing NFTs?