Does Carbon Offsetting Really Address the NFT Ecological Dilemma? by Valentina Di Liscia

April 10, 2021 (updated April 10, 2021) Published by

Last week, the popular non-fungible token (NFT) marketplace Nifty Gateway announced plans to become “carbon negative.” At the end of every month, the platform will purchase carbon offsets — credits representing a stake in an environmental project, like renewable energy or forest conservation — equivalent to double its CO2 emissions.

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Jay Zerbe avatar
@peepso_user_22(Jay Zerbe)
interesting and depressing article. "On the whole, I think the broad consensus is that any of the price points that have been put on a unit of carbon that you’re offsetting are monumentally cheaper than the actual cost of climate change that will be incurred as a result of the production of the emissions of that carbon."
1 year ago
Kate Hendrickson avatar
@peepso_user_75(Kate Hendrickson)
@peepso_user_22(Jay Zerbe) I agree with you. I have been collecting articles on NFTs. I spoke last night with an artist who has stuck a toe into this pond. It is not a free platform. The artist had to pay what is called a gas tax (which is really a tax on the electricity the minting takes to produce the crypto image). I didn't bring up how this affects the environment with the artist because It was clear the motivation is about making money. Anyway, I have another friend who is fairly well versed in crypto and feels it is a dirty place to dabble due to the characters that trade there. Time will tell if artists benefit or not. Is this a fad that will fade?
1 year ago
Jay Zerbe avatar
@peepso_user_22(Jay Zerbe)
@peepso_user_75(Kate Hendrickson) i certainly hope it fades!
1 year ago