Capturing some wisdom here shared in discord around NFT’s and their energy efficiency
My research tells me that NFT’s are energy consumption intensive, they carry a heavy gas tax and thus, their minting doesn’t seem to be aligned to SEEDS ethics.
Am I missing something? If the above is true, is there a way around this situation? Could SEEDS have its own platform to regeneratively mint NFTs within Telos/EOS? Any ideas to offset the degenerative processing of NFTs?
Rieki alerted me to this for making NFTs on Telos and therefore very low-energy consumption: Alcor NFT Market | Trustless NFT market on EOS chain
Atomic, no fee, NFT marketplace.
It is also possible on Matic/Polygon, likewise low-energy usage and low gas fees. My guide for doing so is here: Make an NFT - HedgeDoc
I agree that making NFTs on Ethereum is very much against SEEDS principles, it is incredibly energy-intensive: NFTs Are Hot. So Is Their Effect on the Earth’s Climate | WIRED
The sale of a piece of crypto art consumed as much energy as the studio uses in two years. Now the artist is campaigning to reduce the medium’s carbon emissions.
I have a lot more resources on NFTs if you’re interested, just let me know.
Matic/Polygon is working on top of Etherium, so it’s not fully green, although it’s transactions are cheap and greenish. Tezos blockchain is the green competitor of ETH on the NFT space with HEN https://hen101.xyz/ https://www.hicetnunc.xyz/ being the biggest marketplace there. That’s our way to go if we want or be fully green, besides creating our own NFT platform. But it’s more complicated than that because ETH has a lot of network effect and a lot of wealthy whales as well.
Hic Et Nunc 101
Hic Et Nunc Onboarding, Links and Resources
decentralized digital assets