@tezfrogs on Hicetnunc.xyz, a Tezos based Marketplace

How to make and sell climate friendly NFTs (aka Clean NFTs) with Tezos and Hicetnunc

Art Min

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TL;DR Mint and sell your NFTs on a Tezos based marketplace to minimize emissions

Are NFTs really bad for the environment?

There’s been a lot of news about how minting and selling NFTs is terrible for the environment. Most NFTs are minted and sold on marketplaces using the Ethereum blockchain. It’s estimated that Ethereum requires 36TWh of electricity a year to run. This is roughly 17 million tons of C02 a year. This sounds like a lot but a few things to keep in mind:

  1. This assumes that only fossil fuels are used to create the electricity.
  2. 17 million tons a year is miniscule relative to our planet scale emissions is 51 gigatons per Bill Gates’ excellent book “How to Avoid a Climate Disaster.”
  3. And, a study by the University of Cambridge found that additional blockchain activity doesn’t increase emissions.

But, we shouldn’t ignore the additionality of carbon based on NFT and blockchain activity and as a new NFT artist, you can do something about it.

Use a Proof of Stake Blockchain

There’s lots of great articles covering the technical aspects of the difference between Proof of Work and Proof of State blockchains, but I like Investopedia’s description:

Proof of Work (POW) requires huge amounts of energy, with miners needing to sell their coins to ultimately foot the bill; Proof of Stake (PoS) gives mining power based on the percentage of coins held by a miner.

In simple terms, it takes much less electricity to mint and sell NFTs that use a Proof of Stake blockchain. An example of a good Proof of Stake blockchain is Tezos, and they tweeted a good visualization of how they’re different than Ethereum.

@tezos: Minting three #NFTs on #Ethereum produces 915 pounds of carbon dioxide emissions, the weight of a polar bear. On #Tezos it produces .00054 lbs — about the mass of the snowflakes on this bear’s snout. #TezosCleanNFT #CleanNFT

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Art Min

I’ve led product teams for over 20 years and learned a thing or two.