Are NFTs bad for the environment?

Section for collectors of NFT art.
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martinnura
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Joined: 02 Aug 2022, 08:45

Are NFTs bad for the environment?

One of the biggest controversies surrounding NFTs is that they are not environmentally friendly. While NFTs aren’t inherently bad for the environment, minting or creating them takes up a lot of energy. However, due to a lot of backlash from concerned consumers, steps have been taken to curb energy consumption. For one, several blockchain companies are moving to a proof-of-stake method of validating transactions. This minimizes the energy required to solve a complex problem, which was the case with proof-of-work systems. NFT projects that support the environment have also emerged. NFT gaming marketplaces, too, have started to adopt layer 2 solutions wherein several transactions are rolled up off-chain before being bundled onto the blockchain. This also plays a huge role in reducing the environmental impact of NFTs.

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