NFTs are designed to be unique, one-of-a-kind digital assets. But the environmental cost of creating and maintaining them is often overlooked.
NFTs are typically created using blockchain technology, which requires significant amounts of energy to run. The electricity required to power just one Bitcoin transaction could power an entire US household for almost two days.
And it's not just the initial creation of NFTs that takes a toll on the environment – they also require ongoing energy consumption to stay operational. That means every time someone buys, sells, or trades an NFT, more energy is being used up.
All this energy use comes with real environmental consequences. The Bitcoin network alone is estimated to produce enough carbon dioxide emissions to fill nearly four million cars every year.
And as NFTs become more popular, that impact is only going to grow. Unless we find a way to make them more sustainable, NFTs could end up doing serious damage to the environment – and that's something we should all be concerned about.
Join the community and post or answer questionsJOIN COMMUNITY
NFTs is what we do every day, all day. We're a publication completely dedicated to this industry and our writers are experts in this field.