The Environmental Impact of NFTs

Articles

The latest blockchain craze is non-fungible tokens, more commonly known as NFTs, however thereโ€™s begun to be some pushback from the artistic community that does many of the NFT designs. While there are still many who are enthralled by the profit potential of these new digital artworks, there are others who have begun telling the tale of an earth-killing monster. But whether thought of as financial savior or ecological disaster, thereโ€™s no doubting that many still consider NFTs to be the cutting edge and possibly the future when it comes to digital art.

The lingering issue is the environmental impact of NFTs, particularly in this age of climate change, carbon offset, and the New Green Deal. Artists who are also staunch environmentalists have recently begun moving away from NFTs, even where it could potentially cost them millions of dollars in revenue. These artists claim that the environmental impact of NFTs is simply too great.

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