Why are nfts bad for the environment in 2024?
You may be aware of the effects on the environment of non-fungible tokens, or NFTs. NFTs do not directly affect the environment, but their production process does have an effect on our climate.
NFT creation can be a very energy-intensive process. Since Ethereum switched to a proof-of-stake model, the majority of NFTs are created on a blockchain that uses a fraction of the energy of a proof-of-work blockchain. Blockchains that need to perform energy-intensive tasks, whether they have to do with cryptocurrency or not, may produce too much carbon if they use energy from non-renewable sources.
Why are nfts bad for the environment in 2024? Read Post »