Page 1 of 1

Are NFTs bad for the environment?

Posted: 14 Nov 2022, 05:08
by martinnura
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.

Visit https://www.jump.trade/