What is the environmental impact of NTFs?

Asked 25-May-2022
Viewed 372 times

1 Answer


0

  • NFTs and Bitcoin both have one negative aspect in common: they consume a lot of energy. As a result, their environmental impact is comparable.
  • Computer transactions are used to sell and authenticate NFT artworks. These transactions are necessary for minting NFTs, bidding and paying for NFTs following successful bidding, and transferring ownership.
  • This programme will show you how much electricity these transactions consume and their potential environmental impact. Furthermore, the tremendous boost that NFTs are receiving isn't helping matters.
  • The energy used in these NFT transactions is the main issue. In order to maximise profitability, miners typically choose low-cost sources (such as fossil fuels).
  • Another point of worry is that the technology employed, as well as the recycling and manufacturing of the hardware, have a negative impact on the environment.


Read More: How can you get NFTs for free?